UNDERLESSEE Meaning and
Definition
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Underlessee:
An underlessee, also referred to as a sublessee, is a party who occupies or rents a property from a lessee, who in turn leases the property from the original lessor, or landlord. The underlessee enters into a rental agreement with the primary lessee, typically referred to as the sublease agreement, which outlines the terms and conditions of the sublease.
The underlessee is not in direct contractual agreement with the original lessor, and their rights and obligations are mainly governed by the sublease agreement. They have the right to occupy and use the property for a specific duration as agreed upon in the sublease agreement. The payment of rent is usually made to the lessee, who then fulfills their financial obligations to the lessor.
As an intermediate tenant, the underlessee has certain rights and responsibilities. They are responsible for maintaining and returning the property in a condition similar to how it was received, adhering to any stipulated usage restrictions, and ensuring compliance with local laws and regulations. The underlessee also has a responsibility to communicate with the primary lessee regarding any issues or concerns related to the property.
In summary, an underlessee is a person or entity who leases a property from a lessee, in a relationship that is secondary to the original lease agreement. They occupy and maintain the property under the terms of the sublease agreement, and their rights and responsibilities are primarily governed by this agreement.
Common Misspellings for UNDERLESSEE
- ynderlessee
- hnderlessee
- jnderlessee
- inderlessee
- 8nderlessee
- 7nderlessee
- ubderlessee
- umderlessee
- ujderlessee
- uhderlessee
- unserlessee
- unxerlessee
- uncerlessee
- unferlessee
- unrerlessee
- uneerlessee
- undwrlessee
- undsrlessee
- unddrlessee
- undrrlessee
Etymology of UNDERLESSEE
The word "underlessee" is derived from the combination of two words: "under" and "lessee".
"Under" comes from the Old English word "under" which means "beneath" or "below". It has remained relatively unchanged in its meaning throughout history.
"Lessee" is derived from the Middle English word "lesse", which in turn comes from the Old French "lessé" or "lessee". It originally referred to a person who held a lease or a rental agreement on a property. The term evolved from the Old French verb "lessier" which meant "to lease" or "to let".
So, when combining "under" and "lessee", the term "underlessee" refers to a person or entity who holds a lease on a property from another lessee. It suggests a sub-leasing arrangement where the underlessee is a tenant of the original lessee.
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