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The Lessor represents to the Lessee that the term rent set forth in the immediately preceding paragraph A does not reflect any real estate tax increase subsequent to the said Base Year. Notwithstanding anything contained herein to the contrary the Lessee shall be obligated to pay only that proportion of such increased tax as the unit leased him bears to the whole of the real estate so taxed and if the Lessor obtains an abatement of the real estate tax levied on the whole of the real estate of w ...

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a lease simple definition?

A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.

Who is lessee and lessor?

The lessee is the temporary occupant of the property, and the lessor owns the property in which the lessee is staying. Who Holds the Lease of the Property? The lessor, or landlord, holds the lease of the property.

What do we mean by lease?

What is the purpose of a lease quizlet?

a lease sets forth the terms of the tenancy agreed to by the parties. As a conveyance, the lease transfers the right to use and possess the property from the landlord to the tenant.

What is a lease quizlet?

Lease. It is a contractual agreement between a lessor, who conveys the right to use real or personal property(asset) and a lessee, who agrees to pay periodic rents over a specified time.

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