A non-prepaid leasehold refers to a lease agreement where the lessee (tenant) does not pay the full lease amount upfront. Instead, payments are made periodically, typically on a monthly or annual basis, throughout the duration of the lease. This arrangement allows for more flexibility in cash flow for the lessee, as they only pay for the use of the property over time rather than in a lump sum.
If you signed a lease agreement.He can hold you responsible for the remainder of the lease.Unless you cancel the lease before you transfer.
The word leasehold has two syllables. The syllables in the word are lease-hold.
Unamortized lease commissions are typically classified as an asset on the balance sheet, often under "Deferred Costs" or "Prepaid Expenses." These costs represent expenses incurred to secure a lease that will be amortized over the lease term. As the lease progresses, the amortization of these costs is recognized as an expense, reducing the asset value on the balance sheet over time.
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Probably not. But, if this was an attempt by the signer to create a loophole for getting out of the lease later, a judge might hold the person to it.
It would be at the discretion of the landlord. You would want to discuss putting the lease in your name with an understanding about the prepaid rent.Added: If the landlord does not agree (after all you are not lawfully occupying the premises) you will have to leave but with the understanding that the 3 months advance rent must be returned. Unfortunately the rent is only required to be returned to the estate of the person named on the lease so unless you are the only one inheriting the estate of the deceased you will NOT get that prepaid lease money.
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The value that specifies the length of time a client may hold a DHCP lease is called the "lease duration" or "lease time." This value is set by the DHCP server and determines how long an IP address is allocated to a client before it must be renewed or released. Typically measured in seconds, the lease duration can vary based on network policies and requirements. After the lease expires, the client must request a new lease to continue using that IP address.
If It States In The Lease That He Can. If It Isn`t Written That He Can, Take Him To Court,
No lease does not mean no rules. If a tenant causes excessive damages you can still sue them.
No. A minor cannot be party to a contract.
Debit Cash for the cash received, and credit a liability account you can call Prepaid Rent or Prepaid Deposits. Basically, you credit a liability account because you "owe" them the rent for the month they have paid for in advance. Once the month has passed, you can debit the Prepaid Rent and credit Rental Income. Or, if the prepaid rent is a deposit made, you just keep it on your books as a liability until the end of their lease, at which time they will either be refunded the deposit (debit Prepaid Rent, credit Cash) or if they don't pay their last month's rent you can use the deposit (debit Prepaid Rent, credit Rental Income).