Business / Real Estate / Lessor: The person who rents or leases property to another. In residential leasing, he or she is often referred to as a landlord.

Recapture Clause

Business / Real Estate / Recapture Clause: A clause in some percentage leases where the lessor has the right to terminate a lease if a tenant does not obtain a desired gross. MORE

Reversionary Right

Business / Real Estate / Reversionary Right: The return of the rights of possession and quiet enjoyment to the lessor at the expiration of a lease. MORE

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

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

Sandwich Lease

Business / Real Estate / Sandwich Lease: Another term used is sublease. This is when a tenant has a current lease with the owner of a property and then sublets the property to a third party. The tenant is then sandwiched between the owner an MORE

Right To Use (Rtu)

Life Style / Time Shares / Right To Use (Rtu): A lease agreement granting use of a timeshare property for a specific time period. The management company or the resort developer retains ownership of the actual physical property itself, though the r MORE