undertenant


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undertenant

(ˈʌndəˌtɛnənt)
n
(Law) a tenant who rents from someone who is renting the property (i.e. another tenant)
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References in periodicals archive ?
A tenant holding such a lease, who wishes to effect one of these dealings will usually first enter into an agreement with the prospective assignee or undertenant.
On the group level, Al-Anons might complain that usually AA is the head tenant for the meeting space and Al-Anon the undertenant, or that Al-Anon still pays half the rent even if it uses the space only once a week, as opposed to Aa:s, say, five weekly meetings.
Where there is an underlease in place, rent paid by the undertenant goes to buyer under the assignment and the virtual assignment may adversely impact upon the landlord's ability to ensure that the undertenant pays rent and observes its covenants.
If the landlord's relationship with its direct tenant comes to an end, the landlord may inherit the undertenant as its direct tenant.