- The intentional termination and voluntary relinquishment of
one's possession and rights to real property without transferring those rights to any
other person
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- The ousting of a tenant from leased property pursuant to a
court order for breaching some covenant in the lease
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- A principle which states that if the purpose of the
leasehold cannot be effectuated or continued due to some unforeseen occurrence such as the
passage of a new law, the lease may be legally terminated
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- 1. A transfer of interest by lease. 2. Death.
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- To put one out of possession or occupancy of real estate
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- To seize ones property in hopes of compelling payment
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- The clause in a lease permitting upward or downward
adjustments in rent
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- The interest, degree, nature, quantity and extent of one's
legal interest and rights in real property
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- Arises when a person comes into possession of property
lawfully and retains possession after his estate has terminated without consent
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- The right to occupy or use property as long as the owner
permits him to
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- An estate for a definite limited period of time such as that
created by a lease
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- A type of lease which provides for increased rental payments
at various periods through the life of the lease
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- A lease that provides that the lessor is responsible for all
property charges regularly incurred through ownership
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- A lease of land only which usually provides that the lessee
will erect a building or some other improvement on the land
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- A tenant that continues to occupy or use a property after
the expiration of the lease term
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- A lease in which rental increases are tied to some economic
indicator such as the consumer price index
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- An agreement to transfer the possession of and the right to
use property from one party to another for a specific period of time
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- The type of estate created by a lease; estates for a
definite limited period of time
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- A party who has the right to possession and occupancy under
a lease agreement; tenant
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- One who conveys an estate to another under a lease; landlord
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- A lease that provides that in addition to paying rent the
tenant is also responsible for paying property expenses as they relate to the leased space
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- A lease containing a provision that the property be
periodically re-evaluated and the rent be adjusted to reflect the current market value of
the property
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- Government regulation of the amount of rent that can be
charged
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- The right to match any offer to buy or lease property before
it is sold or leased to another party
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- Often used to raise capital, an owner occupant will sell the
property and as part of the same transaction sign a long term lease and become a lessee
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- A lease covering the air space above a piece of real estate
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- A lease given by a lessee to a third party for some portion
of the leased premises and/or the lease term
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- A clause used when the holder of a mortgage, lease or
certain other contracts accepts an inferior position to someone in a priority position
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- The mutual consent of a lessor and lessee to cancel a lease
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- Arises when a tenant remains in possession of real estate
after the expiration of his estate, such as after a lease has expired
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- One who holds or possesses real estate; one who has the
temporary use of real property belonging to another; the lessee
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- An act requiring the New Jersey Department of Community
Affairs to publish a statement of the established rights and responsibilities of
residential tenants and landlords. It also requires that certain landlords provide each
tenant with a copy of the statement and post a copy in the rental dwelling
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