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Simple English definitions for legal terms

triple net lease

Read a random definition: Parratt–Hudson doctrine

A quick definition of triple net lease:

A triple net lease is a type of commercial lease where the person renting the property pays for more than just the rent and utilities. They also have to pay for things like insurance, maintenance, and taxes. This type of lease is popular with investors because they have less responsibility for the property and less risk. The person renting the property benefits because their rent is usually lower and they can make changes to the property. However, they also have to pay for unexpected maintenance costs and tax increases unless they agree to a limit. Triple net leases are usually long-term, lasting 10 or 15 years or even longer.

A more thorough explanation:

A triple net lease (NNN) is a type of commercial lease where the tenant is responsible for paying rent, utilities, insurance, maintenance, and taxes. This type of lease is popular among investors because it reduces their financial and managerial responsibilities over the property, and the tenant covers most of the cost fluctuations. The tenant benefits from a lower rent and more freedom to renovate or alter the property.

For example, a business owner may lease a commercial property under a triple net lease agreement. The owner would be responsible for paying rent, utilities, insurance, maintenance, and taxes. If the property requires repairs or maintenance, the owner would be responsible for covering those costs. However, the owner would benefit from a lower rent and more control over the property.

Triple net leases are generally long-term, with the most common lengths being 10 or 15 years. However, they can last much longer. It is important to note that the tenant may be responsible for unforeseen maintenance costs and tax increases unless there is a cap on the amount they are responsible for.

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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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