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.
Michigan Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements refers to a legal agreement between a property owner (lessor) and a tenant (lessee) in the state of Michigan. This type of lease provides the lessee with the right to construct improvements on the vacant property or lot they are renting. The Michigan Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements allows individuals or businesses to lease vacant land or property for various purposes, such as commercial development, residential construction, or other improvement projects. This agreement grants the lessee the exclusive right to use the property for construction purposes during the lease term. Keywords: Michigan lease, rental agreement, vacant property, lot, lessee, construct improvements, commercial development, residential construction, improvement projects. Different types of Michigan Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements may include: 1. Commercial Development Lease: This type of lease allows a business or developer to rent a vacant property or lot for constructing commercial buildings, shopping centers, office spaces, or other commercial establishments. 2. Residential Construction Lease: This lease is specifically designed for individuals or builders who intend to construct residential properties, such as single-family homes, duplexes, or apartment complexes, on the vacant land they are leasing. 3. Mixed-Use Development Lease: In cases where the lessee plans to construct a combination of residential and commercial properties, a mixed-use development lease can be used. This agreement allows the lessee to develop a property that comprises both residential and commercial spaces. 4. Industrial Development Lease: For industrial construction or development projects, such as warehouses, manufacturing facilities, or distribution centers, an industrial development lease is used. This type of lease enables the lessee to rent vacant land or lots to build or expand industrial infrastructure. 5. Temporary Construction Lease: Sometimes, a lessee may need a vacant property or lot for a short period to complete a construction project. A temporary construction lease allows the lessee to lease the property for a specific duration solely for construction purposes. Overall, the Michigan Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements provides flexibility for lessees to engage in various construction projects, contributing to economic growth and development in the state.
