sublease

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sublease

A lease by a tenant to a subtenant of part or all of the premises leased by him, for part or all of the term of his lease.
References in periodicals archive ?
i) Rented to a lessee or sublessee and used by the lessee or sublessee to conduct its customary operations; and/or
i) Rented to a lessee or sub-lessee and used by the lessee or sublessee to conduct its customary operations; and/or
168(h)(7) as any grant of a right to use property) by the building portion's lessee, sublessee or lessor.
The probability of lease renewal might add reversionary value to the hangar sublessee.
11) In situations involving the subletting of property, the applicable nonbankruptcy law provision suggests that, when a bankrupt lessee or sublessor rejects the original lease, the sublessee of the original lease should also have the right to remain on the premises as permitted by "applicable nonbankruptcy law.
In Ohio, any person who contracts for an improvement to real property which gives rise to lien rights under a private improvement is presumed to be the authorized agent of all part owners of the real property, except when the relationship between the person contracting for the improvement and the other part owners is that of lessee and lessor or sublessee and sublessor.
137) For example, a fee simple can be physically divided and divided yet again, or a lessee can create a sublease and the sublessee a (sub)sublease, etc.
Typically, the sublessee gets a discount, $5-$10 less per sq.
Payments to a lessor for a release from a lease, expenses of obtaining a sublessee, and expenses incurred to acquire a lease, such as a real estate commission, qualify as lease expenses.
Then one of his managers told him that the Ross Sutherland store in the Ala Moana Center was looking for a sublessee for a portion of its 5,000-square-foot floor.
But soon afterward, the sublessee closed the skating rink operation and moved out.