sublease

(redirected from Sublessee)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.

sublease

n. the lease of all or a portion of premises by a tenant who has leased the premises from the owner. A sublease may be prohibited by the original lease, or require written permission from the owner. In any event, the original tenant (lessee) is still responsible for paying the rent to the owner (landlord/lessor) through the term of the original lease and sublease. (See: lease, rent)

sublease

a lease of property made by a person who is himself a lessee or tenant of that property, or the act of granting or taking such a lease.

Collins Dictionary of Law © W.J. Stewart, 2006

SUBLEASE. A lease by a tenant to another tenant of a part of the premises held by him; an underlease.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

Mentioned in ?

References in periodicals archive ?

This Note argues that a lease deemed rejected under the surrender provision ends the bankrupt sublessor's interest in the lease but does not terminate the rights of a sublessee. State property law, rather than federal law, should determine the sublessee's rights when the primary lease is deemed rejected.

Rejection versus termination: a sublessee's rights in a lease rejected in a bankruptcy proceeding under 11 U.S.C. 365(d)(4)

"As the sublessee, you want to have the ability to stay in the space should the sublessor go out of business or move.

Management advice: share and share alike

The purchasing sublessee, though, may be able to obtain a new sublease, thereby extending the subleasehold interest, increasing the building's subleasehold value.

An introduction to the valuation of aircraft Hangars-Part 2

* Such portion is to be occupied exclusively by the lessee (or any sublessee); and

Ready, set, depreciate: Highlights from the 2002 tax act

* It must be made pursuant to a lease either by the lessee (or sublessee) or the lessor;

Post-JGTRRA bonus depreciation

* The improvement must be made under or pursuant to a lease either by the lessee (or sublessee) of that portion of the building, or by the lessor of that portion of the building

The Job Creation and Worker Assistance Act of 2002

Some of the elements which would certainly and directly affect the market price agreed upon by a tenant and a sublessee in such an extraordinary and unusual transaction would be the reasonable cost of moving out the property stored and preparing the space for occupancy by the subtenant.

Dividing the Pie: Compensating Landlords and Tenants in Takings of Leased Real Property

"Because both the sublessor and sublessee are publishing companies, the space literally was a perfect fit," said Richard Charkham, managing director at FirstService Williams, who along with president Michael Cohen, represented The Economist Group.

Conde Nast sublease deal

Only at that time would a deduction be allowed for the basis in the right, either through amortization or sale of the interest to the sublessee. The IRS relied on several cases in which parties have, in form, entered into two separate transactions that resulted in offsetting obligations, but in which the courts collapsed the obligations and recharacterized the two transactions, in substance, as a single transaction (Rogers, 281 F3d 1108 (10th Cir.

Rev. Rul. disallows LILO transaction deductions

Likewise, the sublessee does not have direct rights against the landlord but rather must look to its sublessor for resolution of any issues.

A primer for property managers: So your tenant wants to sublease?

Substantial capital improvements are or may be made by or for the benefit of the lessee or sublessee; and

The New York State gains tax law and cooperative conversions

The improvement must be made under (or pursuant to) a lease, either by the lessee (or sublessee) or lessor of that portion of the building.