Lease liability
An amount or obligation arising under a lease, such as unpaid rent, service charges, dilapidations or guaranteed lease commitments.
Related terms
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Assignment of lease
The transfer of a tenant’s interest in a lease to another party, usually subject to the lease terms and any required landlord consent.
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Commercial lease
A contract giving a business the right to occupy premises for an agreed term, rent and set of conditions.
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Dilapidations
A commercial property claim for repairs, reinstatement or other lease obligations that a tenant may owe at or near the end of a lease.
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