Ground Sublease is a type of lease agreement between two parties, in which a tenant (the sublessor) leases a certain property from the landlord (the head lessor), and then subleases the same property to a third party (the sublessee). The tenant retains the right to occupy the property, while the sublessee has the right to use the property and pay rent to the tenant. This type of arrangement creates a new lease agreement between the tenant and the sublessee, while the head lessor retains the original lease agreement with the tenant. There are two types of Ground Sublease: Absolute Ground Sublease and Conditional Ground Sublease. In an Absolute Ground Sublease, the head lessor relinquishes all of their rights and obligations under the original lease, while in a Conditional Ground Sublease, the head lessor retains certain rights and obligations under the original lease.
Sublease Meaning
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A ground lease involves undeveloped commercial land that is leased to tenants, who then have the rights to develop and use the property for the duration of the lease
Ground Sublease is a type of lease agreement between two parties, in which a tenant (the sublessor) leases a certain property from the landlord (the head lessor), and then subleases the same property to a third party (the sublessee). The tenant retains the right to occupy the property, while the sublessee has the right to use the property and pay rent to the tenant. This type of arrangement creates a new lease agreement between the tenant and the sublessee, while the head lessor retains the original lease agreement with the tenant. There are two types of Ground Sublease: Absolute Ground Sublease and Conditional Ground Sublease. In an Absolute Ground Sublease, the head lessor relinquishes all of their rights and obligations under the original lease, while in a Conditional Ground Sublease, the head lessor retains certain rights and obligations under the original lease.
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