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Underlease

   Also found in: Legal 0.01 sec.
Un´der`lease
n.1.(Law) A lease granted by a tenant or lessee; especially, a lease granted by one who is himself a lessee for years, for any fewer or less number of years than he himself holds; a sublease.
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Sub-letting occurs when the tenant grants an underlease out of the tenant's own lease with the landlord.
Landlords and tenants must work together to ride out recession by Daily Post (Liverpool, England)
He was required to issue an underlease to the Rugby Club, securing its future - the sole reason the council issued the original lease.
Cov can feel right at home; NEW DEAL: Rugby club looks to future by Coventry Evening Telegraph (England)
If you are a landlord granting a new lease, an owner selling your property or a tenant granting an underlease or transferring your lease to a third party, you must provide an energy performance certificate to the other party to the transaction.
Take a tip from the top; Commercial Property by Evening Gazette (Middlesbrough, England)
 
 
 
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