LandlordA landlord is the owner of property such as a farm, house, apartment, condominium, land, or real estate that is rented or leased to an individual or business, known as a tenant (also called a lessee or renter). The term landlord applies when a juristic person occupies this position. Alternative terms include lessor and owner. For female property owners, the term landlady may be used.
Leasehold estateOwnership of a temporary right to hold land or property A leasehold estate or a leasehold interest is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.
Real propertyIn English common law, real property, real estate, immovable property or realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an improvement or fixture) to be considered part of the real property, it must be integrated with or affixed to the land. This includes crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads.PropertyEntity owned by a person or a group of people Buildings of shops, hotels, and residences are prevalent forms of property. Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves.
ContractA contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting.
LessorLessor is a participant of the lease who takes possession of the property and provides it as a leasing subject to the lessee for temporary possession. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee. The lessor may be the owner of the property or an authorized on the owner's behalf. Commercial banks, credit non-bank organizations, leasing companies often act as lessors. TerminologyA lessor can be both legal entity and individual.NoticeNotice is the legal concept describing a requirement that a party be aware of legal process affecting their rights, obligations or duties. There are several types of notice: public notice (or legal notice), actual notice, constructive notice. Service of processAt common law, notice is the fundamental principle in service of process. In this case, the service of process puts the defendant "on notice" of the allegations contained within the complaint, or other such pleading.
United StatesCountry primarily in North AmericaThe United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic consisting of 50 states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean.
AssetIn financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent the value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetary value of the assets owned by that firm.
OwnershipOwnership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different parties. The process and mechanics of ownership are fairly complex: one can gain, transfer, and lose ownership of property in a number of ways.Party (law)A party is an individual or group of individuals that compose a single entity which can be identified as one for law purposes.subleaseRelated word or term.subletRelated word or term.*As an Amazon Associate I earn from qualifying purchases.