SUBLEASED Meaning and
Definition
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Subleased is a term that refers to an agreement made between two parties wherein a leasing tenant transfers their rights and responsibilities regarding a property to another individual for a specific period of time. It is a practice commonly observed in the real estate market.
When a tenant subleases a property, they essentially become a lessor or sublessor, while the individual taking over the property becomes the sublessee. In this arrangement, the sublessee assumes the rights and obligations outlined in the original lease agreement but on a temporary basis.
Subleasing typically occurs when a tenant is temporarily unable to occupy the premises they have leased for the entire duration of their contract. To mitigate financial losses, they may choose to sublet the property to another person. However, it is important to remember that the original tenant remains responsible for fulfilling the terms of the lease, including paying rent and adhering to any stipulations mentioned in the agreement.
It is common for sublease agreements to require the consent of the landlord and abide by any restrictions set forth in the original lease. The terms and conditions of the sublease can vary depending on the negotiations between the sublessor and the sublessee.
Overall, subleasing provides flexibility for tenants who need to temporarily vacate their premises, enabling them to avoid potential penalties for breaking the lease while also having someone else fulfill their lease obligations.
Top Common Misspellings for SUBLEASED *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for SUBLEASED
Etymology of SUBLEASED
The word "subleased" is formed by combining two root words: "sub" and "leased".
The term "sub-" is a prefix which derives from Latin and primarily means "under" or "below". It is often used to indicate a subordinate or secondary status in relation to something else.
The word "leased" comes from the Middle English word "lese" or "les", which means "to lease or let for a fee". Its origins can be traced back to Old Norse or Old Danish, where "leisa" meant "to lease" or "to lend".
Therefore, when "sub" is combined with "leased", it refers to the act of leasing or renting under a pre-existing lease agreement. "Subleased" specifically denotes the action of leasing or renting a property from a primary tenant who already has a lease agreement with the owner of the property.
Similar spelling words for SUBLEASED
Conjugate verb Subleased
CONDITIONAL
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