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What is the difference between a lease and a proprietary lease?
The Proprietary Lease is the signed agreement between the corporation and its shareholder(s), which clearly spells out the obligations of each side in the relationship.
Who signs a proprietary lease?
Owning shares gets you a proprietary lease, which is a form of a residential lease. That means landlord-tenant law will govern the relationship between shareholders like yourself and the co-op.
What is a proprietary lease as evidence of ownership?
The Proprietary Lease entitles the Share owner(s) to occupy a specific apartment in the building, ing to the terms of the Proprietary Lease and the House Rules. The Lease, like any other rental agreement, does not signify ownership of the apartment.
What is the purpose of a proprietary lease?
Unlike a regular lease, which gives a tenant the right to occupy a residence for a specified period, a proprietary lease gives a tenant the right to occupy a unit for as long as they own shares in the corporation.
What is the meaning of proprietary lease?
A proprietary lease is a lease between a cooperative apartment association and a tenant that carries with it the right to occupy a specific apartment. [Last reviewed in July of 2021 by the Wex Definitions Team ]
what is a proprietary lease
Proprietary lease pros and consProprietary lease exampleProprietary lease agreementsample proprietary lease for co-opProprietary lease condoWhat happens when a proprietary lease expiresA proprietary lease is a lease of any propertyA proprietary lease quizlet
4. Proprietary Rights. Possession or purchase of the Equipment does not convey any express or implied license in the Equipment and Lessee shall not receive any.
proprietary lease | Wex | US Law | LII / Legal Information Institute
A proprietary lease is a lease between a cooperative apartment association and a tenant that carries with it the right to occupy a specific apartment. [Last
Every member of a cooperative affordable housing corporation is entitled to receive from the cooperative affordable housing corporation a written proprietary
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