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Amended and Restated Lease Agreement means the Amended and Restated Lease Agreement which amends the Lease dated in the calendar year 2020.In other words, if the new appraisal is lower than the immediately prior appraisal, the new lease will be the lower of the current lease or market rate.

A "relet" means a new tenant is responsible for a unit and pays the landlord. A "sublease" or "sublet" means someone else pays the rent, but the original tenant is still responsible for the rent and damages to the unit.

The definition of lease is to rent property out to someone or to agree to rent someone else's property. An example of lease is when you rent your apartment out to a tenant.An example of a lease is the contract under which you agree to rent an apartment for a period of time for a specific amount of money each month.

When you really need a newer car but want a better deal, consider a Lease Takeover! Lease Takeovers can be a great way to save on your next car lease, but they can also cost you more if you don't pay attention to the terms.

A Lease Amendment is used to modify an existing Lease Agreement between a tenant and landlord by adding or removing clauses, or changing existing clauses. An amendment allows the parties to change the terms without having to sign a new Lease Agreement.

Final Thoughts If you need to move out of your rental before the lease is up, a lease takeover could potentially help you avoid the fees associated with breaking your lease.Additionally, you may be required to give your landlord two months' notice before you can hand off your lease to someone new.

In a lease takeover, you take over someone else's lease before it ends, leaving you responsible for the remainder of the lease.Before you agree to a lease takeover, consider possible drawbacks, including a variety of fees and a potentially higher cost of financing than you could get on your own auto lease.