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What is the difference between a license and a lease of property?
Wiki User
∙ 16y ago
A license is a contractual right to do something on a property, whereas a lease is a property interest that includes possession of the property, often containing the right to sub-license specified uses of the property.
For example, you could lease a warehouse from someone and have a license to use it as a public storage facility, provided you paid a percentage of the generated income to the landlord.
Wiki User
∙ 16y ago
Wiki User
∙ 14y agoA lease is a temporary property right (possession for a term) and a license is a right to do something otherwise prohibited. A lease or license for more than one year must usually be in writing to be enforceable. Oral licenses are very common ("you can ride your bike in my driveway") and can often be revoked at will ("stay off my property").
AnswerThough a license is similar to a lease in the sense that it allows a right to enjoy the immovable property of the grantor yet it does not create any interest in the property.In order to determine whether a transaction is a lease or a license, the substance of the document should be preferred to the form and importance should also be given to the intention of the parties. Intention of parties is very important to determine whether a particular transaction is lease or licence.
It is a lease only if it creates an interest in the property. If it merely permits another to make use of the property, it is a license
Wiki User
∙ 13y agoA mortgage is a loan used to purchase real property.
A lease is an agreement signed by an owner and a tenant that allows the tenant to use real property for a fixed period and a fixed amount of monthly rent: residential and commercial.
Wiki User
∙ 16y agoA lease agreement is the contractual intermediary necessary for establishing a lease. Whereas, a lease is the established contract as set in motion, however hypothetical or actual.
Wiki User
∙ 8y agoA lease allows you to inhabit a commercial, residential or industrial property. A permit allows you to do something legally.
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Is having a tangible property the difference between using the terms lease and rent?
No that is not the basic difference between the terms lease and rent. A lease is often a long term contract, where the details can't be altered. Rent is often more short term.
What is the difference between a life estate and a life lease?
what is the difference between a life lease and a life estate
What is the difference between a perpetual lease and a sale deed?
A lease is the written agreement under which the property owner allows the tenant to use the property for a period of time in exchange for the payment of rent. A sale is an agreement in which property is transferred from a seller to a buyer for a fixed price.
What is difference between NNN lease and gross lease?
In a NNN lease the tenant (person leasing the property) is liable for the taxes, insurance, and CAM (Common Area Maintenance) expenses. In a Gross Lease, the tenant pays a fixed amount of rent to the Landlord and has no other expenses to pay.
What is the difference between a financing lease and a capital lease?
A financing lease occurs through a bank/lending institution where payments are made that charge interest. A capital lease is usually a lump sum of money put up by the buyer or an investor to secure the property based on the terms of the lease for a given period.
Difference between leasehold property and freehold property?
You don't have to pay rent of property which is called annual ground rent, while in leasehold means, you lease the property from owner of property for several years. This is the contract on based of rules, legal rights and responsibilities from both parties.
Difference between sublet and assignment of lease?
An assignment is the transfer of a lease between the current tennant and a prospective tenant. A sublet is a lease held from a lessor who has a superior landlord.
What type of lease makes you responsible for any difference between the actual and estimated depreciation on the car you lease?
Open End lease
Which type of lease makes you responsible for any difference between the actual and estimated depreciation on the car you lease?
Open-end lease
What is the difference between lease and sublease?
A lease is were you are renting of the owner itself, a sub lease is were you would be renting a part of what somebody else already has.
What happens to a written lease agreement when the land owner conveys the land to another person?
If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.If the lease was properly executed by the lessor and lessee the property is subject to the lease and the new property owner must honor it.
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
