9:32
[kevin oleary]
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Simple English definitions for legal terms
sandwich lease
Read a random definition: classification
A quick definition of sandwich lease:
A sandwich lease is when someone rents a property and then rents it out to someone else for more money. It's like making a sandwich with the original lease as the bread and the sublease as the filling.A more thorough explanation:
Definition: A sandwich lease is a type of lease where the lessee subleases the property to a third party for more rent than under the original lease.
Example: John leases a property from Jane for $1000 per month. John then subleases the same property to Mike for $1500 per month. This is a sandwich lease.
Explanation: In a sandwich lease, the lessee becomes a middleman between the lessor and the sublessee. The lessee pays rent to the lessor and then charges a higher rent to the sublessee. The lessee makes a profit from the difference between the two rents. However, the lessee is responsible for any damages or issues that arise from the sublessee's use of the property.