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Simple English definitions for legal terms
primary lease
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A quick definition of primary lease:
Primary Lease: A primary lease is a lease agreement between a landlord and a tenant. It is also known as a head lease or chief lease. When a sublease is granted under the primary lease, it becomes a headlease. In simple terms, a headlease is a primary lease under which a sublease has been granted.
A more thorough explanation:
A primary lease, also known as a head lease, is a lease agreement between a landlord and a tenant. It is the original lease agreement that is signed between the landlord and the tenant.
For example, if a landlord leases a property to a tenant, the lease agreement between them is the primary lease. If the tenant then subleases the property to another tenant, the sublease agreement is a secondary lease.
The primary lease is the main lease agreement that outlines the terms and conditions of the tenancy, including the rent amount, the length of the lease, and any other rules or regulations that the tenant must follow.
Overall, a primary lease is an important legal document that establishes the relationship between a landlord and a tenant and sets the foundation for any subsequent subleases or rental agreements.