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LSDefine

Simple English definitions for legal terms

derivative lease

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A quick definition of derivative lease:

A derivative lease, also known as a sublease, is when a tenant leases some or all of their rented property to another person for a shorter period of time than their own lease. The original tenant still holds the main lease and has the right to take back the property when the sublease ends. The person who receives the sublease is called a sublessee or subtenant, while the original tenant is called a sublessor or underlessor.

A more thorough explanation:

A derivative lease is also known as a sublease. It is a lease agreement where the original lessee (the person who leased the property) leases some or all of the property to a third party for a shorter term than their own lease. The original lessee retains a reversion in the lease, which means they still have some rights to the property.

For example, let's say John leases an apartment from a landlord for a year. After six months, John decides to move out of the apartment but still has six months left on his lease. Instead of breaking the lease, John finds someone else to lease the apartment for the remaining six months. This new person is the sublessee, and John is the sublessor.

Another example is if a business leases a large office space but only needs a portion of it. The business can sublease the unused portion to another company for a shorter term than their own lease.

These examples illustrate how a derivative lease works. The original lessee leases some or all of the property to a third party for a shorter term, allowing them to recoup some of their costs and avoid breaking the lease.

derivative defense | derivative liability

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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