Warning

Info

LSDefine

Simple English definitions for legal terms

derivative lease

Read a random definition: plea in estoppel

A quick definition of derivative lease:

A derivative lease, also known as a sublease, is when a tenant leases some or all of their rented property to another person for a shorter period of time than their own lease. The original tenant still holds the main lease and has the right to take back the property when the sublease ends. The person who receives the sublease is called a sublessee or subtenant, while the original tenant is called a sublessor or underlessor.

A more thorough explanation:

A derivative lease is also known as a sublease. It is a lease agreement where the original lessee (the person who leased the property) leases some or all of the property to a third party for a shorter term than their own lease. The original lessee retains a reversion in the lease, which means they still have some rights to the property.

For example, let's say John leases an apartment from a landlord for a year. After six months, John decides to move out of the apartment but still has six months left on his lease. Instead of breaking the lease, John finds someone else to lease the apartment for the remaining six months. This new person is the sublessee, and John is the sublessor.

Another example is if a business leases a large office space but only needs a portion of it. The business can sublease the unused portion to another company for a shorter term than their own lease.

These examples illustrate how a derivative lease works. The original lessee leases some or all of the property to a third party for a shorter term, allowing them to recoup some of their costs and avoid breaking the lease.

derivative defense | derivative liability

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
:((( what type of cheese are you eating
Pookie52
23:32
go bed mule
I had some mozzarella earlier with a caprese salad, it was okay
blandKimchi
23:33
@KnowledgeableRitzyWasp: wonder if it's w ritz or club
Definitely ritz
blandKimchi
23:34
ngl maybe triscuit
blandKimchi
23:34
could picture the coughing on sawdust laughing at chat
23:35
Club crackers are so good
THEYRE RITZ
23:35
What’s a doormat ivy
23:35
Oh Cornell LOL
WITH MELTED GOUDA
23:35
LMAOOOO
Ily mule
NOW SHUT THE FUCK UP WASP AND GET BACK TO WRITING YOUR LOCIS
I actually didn’t write any locis
blandKimchi
23:36
@ThoughtfulGruesomeMule: w combo... ily even more now
THERES ALSO RASBERRY JAM MIXED WITH THE CHEESE
FUCKKKKK
Do you think Fordham is worth it with a 45k scholarship? So expensive esp w COL
0:48
depends on your goals
1:22
is Loyola LA a good move? i live 20 minutes away and will have no expenses but i need to pay 24k a year
SHUT THE FUCK UP I DONT KNOW
USE CALCULATOR I DONT KNOW FUCK UP
1:34
@ThoughtfulGruesomeMule: why didn't you apply to yale? or uchicago?
1:35
ur stats r rly good.
BECAUSE IM SCARED OF REJECTION
STOP TRYING TO MAKE ME EMOTIONAL
impeccablepulp
2:18
bro is having an episode rn
LSD+ is ad-free, with DMs, discounts, case briefs & more.