Master Lease
- Major lease in a structure that controls subleases. An example is a landlord and attorney entering into a main lease for the third floor offices of building. This lease takes precedence over a sublease between the attorney and an accountant for one of the offices.
- A controlling property lease. Subleases are controlled by the master lease in the sense they cannot extend beyond the terms of the master lease. For example, John grants Jack a 10-year master lease on a commercial office building, Jack can sublease the offices for terms not to exceed the 10-year master lease.
Popular Real Estate Terms
Uncertainties associated with real property including lack of insurance coverage in the event of fire or injury, high crime area, and environmental problems. This risk may be reduced ...
The definition of the term “demise” covers more spectrums than just real estate related. Most commonly the term demise is used to talk about someone’s death. It is also ...
Foreign-born individual not qualifying as a citizen of the country in which he or she resides. ...
Heating system generating heat through radiation as opposed to a convection heating system. For example, baseboard heating is a radiant heating system where the heat from circulating hot ...
Also called real property. Anything permanently affixed to the land, such as buildings, walls, fences, and shrubs, as well as the rights to own or use them. It is distinguished from ...
Land development planning model theorizing that an urban area grows in rings expanding out from the central business district. The second ring is a shifting area having manufacturing and ...
One of the many Inflation definitions can be put into these simple words: the result of the general increase in prices over a period expressed as a percentage. Inflation is controlled by ...
What a piece of property could be sold for on the market. ...
Value of a company's or person's name and reputation, As a result, the business will have a competitive edge, and generate better-than-typical future earnings. ...
Have a question or comment?
We're here to help.