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The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment.
A temporary lease agreement is a legal agreement between the landlord of a property and a tenant that intends to use or occupy it. The difference between a temporary lease agreement and a traditional lease agreement is the occupancy of the property is on a shorter-term or seasonal basis.
A lease termination due to sale clause is one to watch out for. If your rental contract contains this clause it means that your landlord can terminate your lease with the sale of their property. This means that the new landlords do not have to take over the terms of your remaining lease.
Essentially, the tenants obligations and rights under the lease agreement transfer to the new owner, who assumes the position of the previous landlord. The lease terms themselves, however, typically remain unchanged unless otherwise specified by the lease or renegotiated by both parties.
When should the TREC Sellers Temporary Residential Lease be used? The seller wants to stay in the home after closing for no more than 90 days.
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Temporary Lease means any Lease of a temporary or seasonal nature, having a term, including renewal options (if any) of less than one (1) year, including without limitation, short-term concessions or license agreements and cart or kiosk leases or licenses for less than one year.
When a tenant voluntarily gives up possession of the leased premises to the landlord prior to the expiration of the lease, this action is called Abandonment. Eviction is the process whereby a tenant is forcibly removed by the landlord, often through legal procedures.

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