CHP 34 - Contracts: Sale and Lease Contracts Flashcards
1
Q
Gross Lease
A
Landlord pays operating expenses, tenant pays rent
2
Q
Net Lease
A
Tenant pays rent and maintenance and operating expenses
3
Q
Graduated lease
A
Start at a fixed amount but increase as lease matures
4
Q
Ground/Land lease
A
interest in land only, in exchange for rent
5
Q
Percentage Lease
A
Based on percentage of gross sales made
6
Q
Proprietary Lease
A
interest of a cooperative
7
Q
Index Lease
A
Adjustment of rent according to changes in a price index
8
Q
Which is NOT included in a lease?
a) Use provisions
b) Demising Clause
c) Description of Premise
d) Alienation Clause
A
Alienation
9
Q
A lease is both an instrument of ____ and ____
A
Conveyance and a contract to uphold covenants
10
Q
Leasehold is what kind of estate?
A
Less-than-freehold
