Legal Definitions - demise

The term demise carries two primary meanings, one specific to legal property transactions and another more broadly understood.

• In a legal context, demise refers to the transfer of property, most commonly through a lease agreement for a specific period. It can also refer to the transfer of property or assets through a will. When used as a verb, to "demise" means to lease property.
• More generally, and outside of specific legal property transactions, demise also refers to the death of a person or the end or failure of an entity, concept, or project.

Here are some examples illustrating the different uses of "demise":

• Example 1 (Property Lease): A startup technology company entered into a three-year lease agreement for office space in a downtown high-rise building. The legal document outlining this rental arrangement would constitute the demise of the office space.

  Explanation: In this scenario, "demise" refers to the legal transfer of the right to use the office property from the building owner to the technology company for a defined period, as established by the lease agreement.

• Example 2 (Transfer by Will): Before his passing, an avid art collector made provisions in his will for the demise of his valuable collection of contemporary paintings to a local museum.

  Explanation: Here, "demise" describes the transfer of ownership of the art collection from the deceased collector to the museum, as directed by his last will and testament.

• Example 3 (End or Failure): After years of declining viewership and increasing production costs, the long-running television show faced its inevitable demise and was canceled by the network.

  Explanation: In this context, "demise" is used in its broader sense, signifying the end or termination of the television show due to various contributing factors.