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Simple English definitions for legal terms
landlord
Read a random definition: intangible asset
A quick definition of landlord:
A landlord is someone who owns a house, building, or land that they rent or lease to another person or entity, called the tenant. When a landlord rents out their property, they give the tenant permission to use it for a certain amount of time. The landlord can set rules for how the tenant can use the property, but they cannot enter the property without the tenant's permission. At the end of the lease, the landlord can choose to renew the lease, find a new tenant, or stop renting the property. If the tenant does not follow the rules or does not pay rent, the landlord can evict them. Landlord-tenant law is a special area of law that covers contracts and property rights.
A more thorough explanation:
Landlord refers to the person who owns a property, such as a house, building, or land, and rents or leases it to another person or entity, known as the tenant. The landlord transfers part of their interest in the property to the tenant through a lease contract.
For example, if John owns a house and rents it to Jane, John is the landlord and Jane is the tenant. John allows Jane to live in the house and use it according to the terms of their lease agreement.
However, the landlord still retains ownership of the property and can limit the tenant's use of it or require them to do certain things, such as paying rent on time or maintaining the property. The landlord cannot enter the property without the tenant's permission, even if it is specified in the lease agreement. If the lease ends, the landlord can either renew it, lease the property to a new tenant, or stop leasing it altogether.
If the tenant fails to pay rent or refuses to leave the property after the lease ends, the landlord has the power to evict them.
Landlord-tenant law is a specialized area of law in the United States that covers contract and property law. Even if there is no written lease agreement, a valid landlord-tenant relationship still exists.