The agreement by which one party holds possession of the real property owned by another is a lease. The person who owns the real property is known as the lessor or landlord. The lessee, or tenant, is the one who occupies the property.
The relationship of landlord and tenant is created by contract. An oral lease is valid at common law, but statutes in most States require written leases for certain tenancies. Many States provide that a lease for a term exceeding three years must be in writing. Statutes in other States require written leases when the term exceeds one year.
The following elements are necessary to the establishment of the relationship of landlord and tenant:
" The occupying of the land must be with the consent of the landlord.
" A reversionary interest in the land must remain in the landlord. That is, the landlord must be entitled to retake the possession of the land upon the expiration of the lease.
" The tenant must have present possession in the land. This means a right to be in possession of the land now.
Lima Arizona is a stunning town located in Graham County, Arizona, known for its beautiful landscapes and a peaceful small-town atmosphere. When it comes to leasing or renting vacant property or lots in Lima, there are various options available that allow lessees to have the right to construct improvements. One type of Lima Arizona Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements is the Land Lease Agreement. This agreement enables individuals or companies to lease a vacant property or lot for a specified period while granting them the freedom to develop and construct improvements on the land. These improvements can include anything from residential properties to commercial buildings or even recreational facilities. Another type of lease or rental option in Lima Arizona is the Build-to-Suit Lease. This agreement allows the lessee to lease a vacant property or lot with the option to construct a building tailored to their specific needs and requirements. This type of lease is ideal for businesses or organizations looking for a custom-built space that aligns perfectly with their operations. Lima Arizona also offers Ground Lease Agreements, where the lessee acquires a long-term lease on a vacant lot for a range of purposes, such as the development of shopping centers, industrial facilities, or office complexes. Ground leases allow lessees to construct improvements, including structures and infrastructure, while ensuring a steady stream of income for the lessor through lease payments. These various types of Lima Arizona Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements provide opportunities for individuals, businesses, and organizations to bring their visions to life and contribute to the growth and development of the community. Whether one desires to build a home, establish a business, or create a recreational facility, Lima Arizona offers a range of leasing options to suit different needs and aspirations.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.
