Joint and Several
May 19, 2014 12:32 pm Comments Off on Joint and SeveralWhen one combined entity (joint) or the individual members (several) can be held liable under a contract.
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Joint Tenancy
May 19, 2014 12:33 pm Comments Off on Joint TenancyA type of property ownership where two or more parties owns equal and undivided interests in the property. Upon death... View Article
Land Sale-Leaseback
May 19, 2014 12:34 pm Comments Off on Land Sale-LeasebackThe same concept as a sale-leaseback, but only the land is sold and leased back using a ground lease.
Landlord
May 19, 2014 12:33 pm Comments Off on LandlordThe lessor or owner of the leased property.
Landlord-paid Tenant Improvements (LPTI)
May 19, 2014 12:34 pm Comments Off on Landlord-paid Tenant Improvements (LPTI)The total cost (outlay) of necessary tenant improvements paid by the landlord netted against any contribution made by the tenant.
Leakage (retail)
May 19, 2014 2:18 pm Comments Off on Leakage (retail)Purchases made in other service areas by consumers located within the subject area (representing a loss of revenue for retailers... View Article
Lease Agreement
May 19, 2014 2:19 pm Comments Off on Lease AgreementA contract that creates the relationship of landlord and tenant. A contractually binding agreement that grants a right to exclusive... View Article
Lease Buyout
May 19, 2014 2:19 pm Comments Off on Lease BuyoutThe process by which a landlord, tenant, or third party pays to extinguish the tenant’s remaining lease obligation and rights... View Article
Lease Terminology
May 19, 2014 2:19 pm Comments Off on Lease TerminologyTerms commonly used in reference to a lease.
Leased Fee
May 19, 2014 2:20 pm Comments Off on Leased FeeIn exchange for permitting a tenant to use the property, the owner/lessor has the right to receive rental income and... View Article