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Business & Property

Lease

Lease

A lease is a legally binding contract and an interest in land.

The lease grants to the tenant exclusive possession of the premises in question for a certain period of time, and sets out both the landlord’s and tenant’s rights and responsibilities in relation to the premises, and any restrictions on what the tenants may do in the premises.  The lease also sets out certain circumstances when the landlord may be able to end the lease early because the tenant is in breach of its terms.

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