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landlord and tenant |
Also found in: Legal, Financial, Wikipedia, Hutchinson | 0.02 sec. |
landlord and tenantParties to the leasing of real estate, whose relationship is bound by contract. The landlord, or lessor, is the owner; the tenant, or lessee, supplies payment in order to enjoy possession and use of the property for a specified period. Important forms of tenancy include tenancy for a fixed period, periodic (seasonal) tenancy, tenancy at will, and holdover tenancy (whereby a tenant remains after the contract has ended). See also real and personal property, rent. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A stipulation that the lessee may encumber its leasehold estate (use it for collateral when obtaining financing) without having to obtain the landlord's consent. During this 15-day period, JHP completed its due diligence and processed loan documentation that created a fee and leasehold estate. InterGen eventually defaulted on the loan, and a Chase affiliate took title to the collateral - the 811 building's leasehold estate - in a "non-judicial" foreclosure action. |
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