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.
Missouri Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements is a legal agreement made between a property owner (lessor) and a tenant (lessee) for the lease or rental of a vacant property or lot in Missouri with the added provision that the lessee has the right to construct improvements on the premises. This type of lease or rental agreement is commonly used when the lessee wishes to make significant changes or additions to the property to suit their specific needs. There are different types of Missouri Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements, such as: 1. Commercial Property Lease with Construction Rights: This type of lease agreement is specifically designed for commercial properties, allowing the lessee to construct improvements such as office spaces, warehouses, or retail spaces to enhance the functionality of the property for their business operations. 2. Residential Lot Lease with Construction Rights: This type of lease agreement is applicable when the lessee intends to build their own residential property on the vacant lot. It provides the lessee the right to construct a house or other residential structures according to local zoning regulations and building codes. 3. Industrial Property Lease with Construction Rights: Industrial properties, such as factories, manufacturing plants, or distribution centers, may require specialized facilities. This type of lease agreement allows the lessee to construct or modify existing structures on the property to accommodate their industrial operations. 4. Mixed-Use Property Lease with Construction Rights: In instances where a property will be used for both residential and commercial purposes, a mixed-use property lease with construction rights can be used. This agreement enables the lessee to construct improvements that combine residential and commercial elements, such as apartments above a retail space. Key terms and elements incorporated in a Missouri Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements may include: 1. Lease Term: Specifies the duration of the lease agreement, including any renewal terms or options. 2. Rent: Outlines the amount of rent to be paid by the lessee, the payment frequency, and acceptable methods of payment. 3. Construction Rights: Clearly defines the lessee's right to construct improvements, providing details regarding the scope of construction, timeline, permits required, and any restrictions or approvals needed from the lessor. 4. Maintenance and Repairs: Specifies the responsibilities and obligations of both the lessor and lessee regarding property maintenance, repairs, and insurance coverage. 5. Termination: Outlines the conditions or events that may lead to the termination of the lease agreement, including default, breach of contract, or non-payment of rent. 6. Dispute Resolution: Establishes the mechanism for resolving any disputes that may arise between the lessor and lessee during the lease term, such as through arbitration or mediation. It is essential to consult legal professionals or seek expert advice when drafting or entering into a Missouri Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements, as the specific terms and provisions can vary based on the nature of the property and the intentions of the parties involved.
