Question

Lets say that there a lease contract for a commercial space in some town center. The business or store that will be built there is plan to earn money selling apparel created by artists, designers, and small businesses local.

with that being said, What type of tenancy is being created by this contract? And how is this type of tenancy different than the other types of tenancies that can be created?

Answer 1

A lease is a contract arrangement that requires the tenant to pay the rent for the use of the property. Property, buildings and vehicles are common property that is leased out. Industrial or business equipment is also leased out.

Generally speaking, a lease is a contract between two parties, the lessee and the lessee. The lessor is the legal owner of the property and the lessee has the right to use the property in exchange for the normal rent. The lessee also agrees to abide by the terms and conditions of use of the property or equipment. For example, a car rental may agree to the terms that the car is used for personal use only.

Lease term can refer to two types of lease. The first is a lease where the property is visible. Here, clients rent property (for example, land or goods) leased or leased by the owner. (Verbal leasing is unclear because it could refer to one of these activities.) Examples of non-exclusive property leasing include software applications (similar to licenses but with different provisions) or Use radio frequencies (such as contracts with mobile service providers).

Leases may also apply to re-rentals (usually monthly rentals) internationally and in certain parts of the United States.


The lease is a legal contract and therefore all parties can apply it under applicable court contract law.

In the United States, because it also represents a property transfer, it is a hybrid type of contract that includes the merits of an act.

Some types of leases may have specific clauses required by the statute, depending on the leased property and / or the jurisdiction over which the parties' agreement or residence is signed.

The general elements of the lease agreement include:

Name of party to the agreement.
Start date and duration of the agreement.
Identify the specific object (by VIN street address or make / model serial number) to be leased.
Provides conditions for continuation or non-recovery.
There is a specific fee (sum or periodic payment) for using this item.
There are regulations for deposit, guarantee and conditions for return.
There may be a specific list of conditions that are described as default conditions and specific compensation.
Other specific terms and conditions of the parties may be set as follows:
You must provide loss insurance.
Strict use.
Which country is responsible for maintenance?
Termination statement (describes what happens if the contract is terminated early or terminated, stating the rights of the parties to terminate the lease and their obligations)

All types of personal property (for example, cars and furniture) or real estate (for example, raw land, flats, single family flats and commercial property, including wholesale and retail) can be leased. As a result of the lease, the landlord offers the use of the specified property to the lessee.