Lease and Personal Property

Question 1

Emblements

Answer 1

Crops or profit from crops, grown by farmer is personal property

Question 2

Severance

Answer 2

Real property to personal property

Question 3

Trade Fixture

Answer 3

Personal property for business purposes

Question 4

Utility

Answer 4

Degree to which something performs a desired function

Question 5

Management Proposal

Answer 5

Plan includes: analysis of market, financial standing, operating budget, important factors

Question 6

Percentage Lease

Answer 6

Tenant pays base rent + % business profits

Question 7

Suit for Possession

Answer 7

Legal action by landlord to evict tenant

Question 8

Triple-net Lease

Answer 8

Lease requiring tenant to pay prorated portion of all operating expenses

Question 9

Constructive Eviction

Answer 9

Termination of lease d/t landlord defaults and acts, or fails to act, in such a way that the premises become unusable

Question 10

Graduated Lease

Answer 10

Lease in which the rental rate increases over time in specific increments