underlease

(redirected from underleases)
Also found in: Legal.

underlease

n
a sublet
vb
(tr) to rent out by a sublet
References in periodicals archive ?
The MoD has since rented them back on 200-year underleases, and is paying more than PS178m a year for the remaining 39,000 properties, a National Audit Office (NAO) report has discovered.
Highlights have included acting for longstanding clients Chisholm Bookmakers on a range of issues spanning lease grants, lease renewals, licences for alterations, and the grant of underleases and conditional agreements for the acquisition of new premises.
She acts for various multi-unit operators regularly providing advice to them on freehold acquisitions, lease renewals, the grants of underleases and development agreements for the acquisition of new premises.