MASTER LEASE Meaning and
Definition
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A master lease refers to a legal agreement entailing the transfer of primary lease rights from the original leaseholder, dubbed the master tenant, to a secondary party known as the subtenant. In this contract, the master tenant retains the title of the leased property while granting usage rights and subleasing privileges to the subtenant. The master lease typically outlines the terms and conditions of the agreement, including lease duration, payment structures, terms for renewal or termination, and any specific allowances or restrictions related to occupying or modifying the property.
The master lease serves as a conduit for the master tenant to generate income from the subtenant, reducing their financial burden. Meanwhile, the subtenant benefits by accessing a property that they would not have been able to lease directly from the property owner. The master tenant acts as an intermediary, managing responsibilities such as rental collection, property maintenance, and coordination between the subtenant and the property owner.
Master leases are commonly utilized in commercial real estate scenarios, enabling property owners to maintain oversight and control over their investment while delegating day-to-day leasing obligations to a skilled master tenant. It provides an opportunity for a master tenant to leverage their expertise in leasing and property management, while also allowing the property owner to profit from an unused or underutilized property.
Common Misspellings for MASTER LEASE
- naster lease
- kaster lease
- jaster lease
- mzster lease
- msster lease
- mwster lease
- mqster lease
- maater lease
- mazter lease
- maxter lease
- madter lease
- maeter lease
- mawter lease
- masrer lease
- masfer lease
- masger lease
- masyer lease
- mas6er lease
- mas5er lease
- mastwr lease
Etymology of MASTER LEASE
The etymology of the word "master lease" comes from the combination of the words "master" and "lease", which have separate origins.
1. Master: The word "master" originated from the Old English word "mægester" meaning "chief, head, or ruler". It can be traced back to Latin and Greek roots, such as "magister" and "μάγιστρος" (magistros), which both indicate a person with authority or control.
2. Lease: The word "lease" originated from the Old French word "les" or "lais" meaning "letting, leaving, or permission". It can be traced back to the Latin word "laxare" meaning "to let loose or loosen".
Similar spelling word for MASTER LEASE
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