Vocab Test 31-40

Sandwich lease

• Agreement from the landlord to compensate the tenant for all or a portion of the funds required to construct the commercial spot

• Immediate transfer of ownership

• release of responsibility and/or ownership

• Lessor is also the lease, aka sublet

Subleases

• Lessor is also the lease, aka sublet

• Lessor is also the lessee, aka sandwich lease

• Release of responsibility and/or ownership

• Landlord either does something or fails to do something that he has a legal duty to provide

Tenant Improvement Allowance

• Agreement from the landlord to compensate the tenant for all or a portion of the funds required to construct the commercial space

• Giving responsibility and/or ownership to another

• Immediate transfer of ownership

• Lessor is also the lessee, aka sandwich lease

Abandonment

• Evidence of transfer

• Release of responsibility and/or ownership

• signed statement by a party certifying for another's benefit that certain facts are correct. It defines each party's responsibility in a commercial lease

• Lessor is also the lease, aka sublet

Assignment

• Giving responsibility and/or ownership to another

• signed statement by a party certifying for another's benefit that certain facts are correct. It defines each party's responsibility in a commercial lease

• Release of Responsibility

• Evidence of transfer

Surrender

• Release of responsibility and/or ownership

• Landlord either does something or fails to do something that he has a legal duty to provide

• Agreement from the landlord to compensate the tenant for all or a portion of the funds required to construct the commercial space

• immediate transfer of ownership

Constructive Eviction

• Agreement from the landlord to compensate the tenant for all or a portion of the funds required to construct the commercial space

• Evidence of transfer

• Landlord either does something or fails to do something that he has a legal duty to provide

• Lessor is also the lessee, aka sandwich lease

Estoppel Statement

• Immediate transfer of ownership

• Evidence of transfer

• Landlord either does something or fails to do something that he has a legal duty to provide

• signed statement by a party certifying for another's benefit that certain facts are correct. It defines each party's responsibility in a commercial lease

Evidence of Transfer

• Surrender

• Deeds

• Sandwich lease

• Abandonment

A quitclaim

• Immediate transfer of ownership

• Giving responsibility and/or ownership to another

• Lessor is also the lease, aka sublet

• Release of responsibility and/or ownership