Contract Rent refers to the amount of rent that has been explicitly stipulated in a lease agreement between a tenant and a landlord.
Dispossess refers to the act of ousting, ejecting, or excluding another party from the possession of lands or premises. This can occur through legal processes or wrongful actions.
An estate in reversion is a type of estate left by the grantor for themselves, beginning after the termination of a specific estate granted by them. For example, a landlord has an estate in reversion that becomes theirs to possess when the lease expires.
A landlord is a property owner who rents out their property to another party, known as the tenant, in exchange for rent. The landlord retains ownership of the property while granting the tenant the right to use it as specified in a lease agreement.
A lessor is an individual or entity that grants a lease to another party, allowing them to use an asset for a specified period in exchange for periodic payments. Lessors are commonly involved in real estate, equipment leases, and other forms of property or assets.
A payment made for the use of land or property, usually, but not necessarily, based on a lease agreement. Rent is typically paid on a periodic basis and provides tenants the right to temporary use and occupancy of certain real property.
The revaluation clause, also referred to as a reappraisal lease, is a provision in a lease agreement that allows for periodic reassessment of the rental value of the leased property. This clause is often used to ensure that rental payments reflect the current market value of the property, protecting the interests of both the landlord and the tenant.
A security deposit is a nontaxable cash payment received by a landlord to be held during the term of a lease to offset damages incurred due to actions of a tenant.
A sharecropper is a tenant farmer who works the land for the owner of the property. Sharecroppers traditionally receive seed, tools, and other necessities, often including housing, from the landlord. Sharecroppers are usually paid a portion of the proceeds from the harvested crop.
Tenancy at sufferance is a type of tenancy that arises when a tenant lawfully takes possession of a property but continues to occupy the premises without the landlord's consent after the lease expires.
A tenant is an individual or entity who leases or occupies a premises, land, or estate under various terms and rights.
