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Property
Property Management
Term | Definition |
---|---|
Fixture Clause | Addresses whether or not fixtures installed by tenant can or cannot be removed after expiration of tenacy. |
Sub-Lease Clause | Prohibits tenant from sub-leasing without consent of landlord. |
Assignment of Lease Clause | Prohibits assignment without lessors consent. |
Lease runs with land | When ownership of leased property transfers, the lease continues to be binding on the tenant as well as new owner. |
Performance expiration | Tenant meets obligation under lease. |
Mutual agreement | Tenant and landlord agree to terminate lease before expiration. |
Eviction | Legal or constructive |
Operation of the law | Bankruptcy, condemnation, foreclosure, tax sale. |