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Simple English definitions for legal terms

net-net-net lease

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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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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
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