Sublease - Law Dictionary Search Results

Home Dictionary Name: sublease

sublease

sublease : a lease that is given by a tenant or lessee to another person of part or all of the leased premises for a shorter term than that of the original lease and under which some interest is retained compare assignment of lease at assignment sublease vt ...

Renewal of lease

Renewal of lease, a re-grant of an expiring lease for a further term. Where a lease contains a covenant by the lessor for renewal, this convenant is commonly subject to the condition that the covenants in the lease shall have been performed by the lessee, and this condition is strongly enforced by the Court, Finch v. Underwood, (1876) 2 Ch D 310.Leases may be surrendered in order to be renewed, without a surrender of under-leases, by virtue of the (English) Landlord and Tenant Act, 1730 (4 Geo. 2, c. 28), s. 6, before which Act a surrender of each under-lease was necessary.As to covenants for perpetual renewal, see Wynn v. Conway Corporation, (1914) 2 Ch 705, and cases there referred to.By the (English) Law of Property Act, 1922, s. 145, and 15th Sch., perpetually renewable leases have, from the 1st January, 1926, been converted into terms of 2,000 years from the date of the commen-cement of the existing term. The conversion is without prejudice to the covenants and conditions of the l...

assignment

assignment 1 : the act of assigning 2 a : a position, post, or office to which one is assigned b : a task assigned 3 : a present transfer of property or rights absolute assignment : an assignment in which the transfer is complete and leaves the assignor with no interest in the property or right transferred assignment for the benefit of creditors : assignment of property by a debtor to an assignee to be held in trust and used to pay off the debtor's debts assignment of income : an assignment by one taxpayer to another of income for the purpose of avoiding taxes assignment of lease : an assignment by a tenant of all of his or her remaining rights in a property under a lease compare sublease effective assignment : an assignment by which the assignor's interest in the property or right being assigned is terminated and transferred to the assignee equitable assignment : an assignment (as of property in which one has a future interest) that is not valid at law but that would be u...

lease

lease [Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner ;also : the act of such conveyance or the term for which it is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.” build·ing lease : ground lease in this entry consumer lease : a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use finance lease : a lease in which the lessor acquires g...

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Sublease - Law Dictionary Search Results

sublease

Renewal of lease

assignment

lease

leasehold insurance

sublessee

sublessor

sublet