underlease

(redirected from underleases)
Also found in: Legal.

underlease

n
a sublet
vb
(tr) to rent out by a sublet
References in periodicals archive ?
These, together with assignment of the underleases of the sites and regulatory assents, are the sole conditions precedent.
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.
The MoD has since rented them back on 200-year underleases, and is paying more than PS178 million a year for the remaining 39,000 properties.
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.