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Simple English definitions for legal terms

net-net-net lease

Read a random definition: inevitable discovery rule

A quick definition of net-net-net lease:

A net-net-net lease is a type of contract where the person who owns a property lets someone else use it in exchange for money. In this type of lease, the person using the property has to pay for all the expenses, including things like taxes and insurance. This means that the owner of the property gets to keep all the money they receive from the lease without having to pay for anything else.

A more thorough explanation:

Definition: A net-net-net lease is a type of lease agreement where the lessee (tenant) is responsible for paying all property expenses, including taxes, insurance, and maintenance costs, in addition to the rent. This leaves the lessor (landlord) with an amount that is free of all claims.

Example: A commercial property owner leases their building to a business owner on a net-net-net lease agreement. The business owner is responsible for paying the rent, property taxes, insurance, and maintenance costs. This means that the property owner receives a fixed amount of rent without any deductions for expenses.

Explanation: In a net-net-net lease, the lessee takes on the responsibility of paying all property expenses, which can be beneficial for the lessor as they receive a fixed amount of rent without any deductions. This type of lease is commonly used in commercial real estate, where the lessee is expected to maintain the property and cover all associated costs.

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HLS II!! But I am not as ecstatic as I thought I would be. After seeing some II's transition to R's, it has me a bit doubtful of it being promising
@info-man: Congrats on Gtown II!
soap
14:50
Congrats everyone
ImpartialLion
14:52
Congrats!
14:54
if i haven’t gotten a harvard ii invite by now am i done if i applied early nov
GreyCeaselessMammoth
14:54
if u weren't in the r wave, i'm sure there's a reason
ReminiscentZestyFish
14:54
Anything's possible
ReminiscentZestyFish
14:55
Probably won't be in Feb A wave but still chance for March
info man is cookin
ImpartialLion
14:55
@RightPlant: welcome to hls purgatory buddy
hate to see a stat twin catch the WL
14:56
@CynicalCynicalCynical: you're too kind, i'm just letting what happens happen
i want georgetown ii :(
ImpartialLion
14:56
We have a brick wall to bang your head against and a computer that can only search the harvard status checker
michigan state university
ImpartialLion
15:04
@MountainousKnottyGuppy: i knew a kid who chose msu undergrad over UMN or UW-Madison, which were in state for him. Paid full out of state
ImpartialLion
15:04
Never made sense to me
15:06
@info-man: average info man win
I applied 12/10 to 9 schools and haven't heard back from any. Kinda nervous, is this normal?
You're well within a normal time frame, wouldn't be worried at all yet
what's considered normal time frame
depends but generally 6-8 weeks
gotcha
this shit is so stressful
Not counting holidays, schools weren't reviewing/making decisions from around Christmas week to this week
You'll probably hear more in Feb
thanks for the advice
ReminiscentZestyFish
15:10
When Berk RD?
np, good luck friend
thanks and likewise
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