Question

Upon the conclusion of a retail lease it is the tenant’s obligation to remove all goods...

Upon the conclusion of a retail lease it is the tenant’s obligation to remove all goods such as carpeting, lighting and shelving fixed to the real property or pay the cost of removal to the

Landlord ? True or False

PLEASE EXPLAIN WHY

Business   Accounting   
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Answer #1

The above statement is true.

Lease in Retail means a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment. A legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years. Both the lessee and the lessor must uphold the terms of the contract for the lease to remain valid.

A commercial lease is meant to be an Agreement between the Owner of that property and the Person looking to initiate some sort of Businesses on that land. A retail lease is a kind of commercial lease in premises that are wholly or predominantly used for retail shop businesses.

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