A periodic lease is an agreement between a landlord and tenant for an indefinite term, with rent paid on a weekly, monthly, or yearly basis. Termination requires adequate notice, and can occur in cases of implied or expressly specified periodic leases. At-will leases can be terminated without notice, and fixed-term leases end on a specified […]
A shell lease allows tenants to make specific improvements or complete interior construction of a property in exchange for discounted rental rates. This type of lease is used for both commercial and residential properties. Tenants benefit from being able to customize the space to their needs, while landlords benefit from having the property improved without […]
Joint tenancy separation is the process of dividing joint ownership of property into separate shares. It is commonly done during divorce. In joint tenancy, when one person dies, their share automatically transfers to the surviving person. The process involves filing for partition, which may result in the property being divided or sold. If either party […]
Graduated leases involve changing monthly payments at specific points during the lease term. They are often used to finance real estate and benefit lenders more than borrowers. Tiered payment lease plans are also used for machinery or equipment purchases. A graduated lease is a rental financing arrangement in which monthly rental payments change at specific […]
Co-signing a lease can have negative consequences, such as financial burdens and legal battles, but can also be necessary for those without credit history. The decision should be based on the reliability of the tenant and potential risks to the co-signer. Co-signing an apartment lease is an important decision because the potential negative impact on […]
A lease extension is an agreement between a landlord and tenant to extend a rental agreement beyond its original expiration date, which can be established for both operating and capital leases. Negotiations for extension terms are subject to both parties’ agreement. A lease extension is a contractual agreement between a tenant and a landlord that […]
A novated lease is a type of automobile lease commonly used in the UK and Australia, with different arrangements in each nation. In Australia, an employer secures the lease for an employee who assumes all responsibilities, while in the UK, one party transfers the lease to another with approval from the vehicle supplier. Similar lease […]
A finance lease allows customers to use an asset while making installment payments to the owner, transferring all risks and rewards of ownership to the customer. This is a common form of leasing for various equipment types, including software and furniture. Interest accrues on the balance owed, and the lessee assumes most of the risk. […]
A lease operator is responsible for monitoring and documenting oil extraction at pumps owned by an oil company, as well as maintaining equipment and hiring professionals for repairs. Mechanical and electronic skills are required, and field knowledge is important for oil companies looking to hire. A lease operator is a man or woman hired by […]
A percentage lease is a commercial real estate agreement where the tenant pays a base rent amount and a percentage of the receipts or sales generated during the month. The lease can include caps or minimums and benefits both the tenant and owner. A percentage lease is a commercial real estate agreement in which the […]
An operating lease allows short-term use of property without ownership rights, offering flexibility and reduced business costs. Capital leases come with property rights and are treated differently in financial statements. It’s important to evaluate and understand lease terms before signing. An operating lease is a lease that allows someone the right to use the property […]
An open-ended lease, also known as a walkaway or net lease, allows the lessee to evaluate the property’s value at the end of the lease and choose whether to purchase it or terminate the relationship. The expected value of the property is used to calculate monthly payments, and if the property depreciates beyond expectations, the […]
Lease balance is the amount left to pay on a lease, often used for vehicle leases. It can exceed the vehicle’s fair market value and may include a balloon payment. Gap insurance can help cover the difference. A lease balance is the amount of money a lease customer has left to pay under the terms […]
A leveraged lease is when a lessor buys property with their own money and loans the rest from a financial institution. The lease and loan are separate contracts, and the lessee pays for the use of the property. The landlord has ownership rights and tax benefits, while the lender gets high interest payments. The most […]
Lease buyout loans allow consumers to pay off a rental obligation and assume ownership of the vehicle. These loans can be secured or unsecured, and may offer competitive fees. They can also help consumers avoid fines for not maintaining the vehicle according to the lease agreement. Surrender options and reduced purchase prices are also available. […]
A flat-rate lease is a contract where the tenant pays a fixed amount at specific intervals for the entire duration of the lease, commonly used for residential and commercial properties. It provides a cost-effective format for both parties and allows for easy financial planning. A flat-rate lease is a type of leasing contract that commits […]
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