Lessee

Business / Accounting / Lessee: The party that is granted the right to use property under the terms of a lease.

Hold-Harmless Clause

Business / Real Estate / Hold-Harmless Clause: A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction. Such clauses are usually found in leases MORE

Holdover Tenancy

Business / Real Estate / Holdover Tenancy: A tenancy whereby a lessee retains possession of leased property after the lease has expired and the landlord, by continuing to accept rent, agrees to the tenants continued occupancy as defined by sta MORE

Hazardous Waste Disclosure

Business / Real Estate / Hazardous Waste Disclosure: California Health and Safety Code (ยง 25359.7(a)) requires owners of nonresidential properties to disclose to prospective buyers or lessees the existence of hazardous substances on or beneath a proper MORE

Estate (Tenancy) At Sufferance

Business / Real Estate / Estate (Tenancy) At Sufferance: The tenancy of a lessee who lawfully comes into possession of a landlords real estate but who continues to occupy the premises improperly after his or her lease rights have expired. MORE

Acreage

Science / Geology / Acreage: An area, measured in acres, that is owned or controlled by one or more owners or lessees. "Gross Acreage" is the entire geographic area under control. "Net Acreage" is the gross acreage multiplied by MORE

Triple-Net Lease

Business / Real Estate / Triple-Net Lease: A net-net-net lease where, in addition to the stipulated rent, the lessee assumes payment of all expenses associated with the operation of the property. This includes both fixed expenses, such as taxe MORE

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