North Dakota Commercial Lease Agreement for Land

State:
Multi-State
Control #:
US-807LT-5
Format:
Word; 
Rich Text
Instant download

Description

Lease of property for commercial purposes. Average complexity.
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  • Preview Commercial Lease Agreement for Land
  • Preview Commercial Lease Agreement for Land
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FAQ

When renting real estate, the person(s) or party who lives in or occupies the real estate is often called a tenant, paying rent to the owner of the property, often called a landlord (or landlady).

In a lease agreement, the lessee is defined as the party that pays for the use of the asset or property. The lessor is the party that receives payments from the lessee in exchange for the usage of its asset or property.

A lessor is the owner of an asset that is leased, or rented, to another party, known as the lessee.

Your options for getting out of a leaseterminate the lease under a break clause;negotiate termination with the landlord;assign the lease - ie sell it to a new tenant;sublet the premises, or part of the premises.

In this page you can discover 16 synonyms, antonyms, idiomatic expressions, and related words for lessor, like: owner, property owner, landlady, landlord, grantor, lease giver, lessee, mortgagee, mortgagor, transferor and assignor.

A lessee is a person who rents land or property from a lessor. The lessee is also known as the tenant and must uphold specific obligations as defined in the lease agreement and by law. The lease is a legally binding document, and if the lessee violates its terms they could be evicted.

To break this rental agreement, the tenant must provide their landlord with a one-week written notice. (§ 47-16-15(1)) Month-to-month leases. Unless both the landlord and the tenant agree to a longer notice period, the tenant must provide the landlord with a one-month notice.

What do the protections mean for North Dakota renters? Since there are no state-level protections in North Dakota, then for renters: Your landlord can still give you a Notice of Intention to Evict. Your landlord can still file an eviction claim in court against you, and you can get a Summons for Eviction.

If you have a lease agreement normally you cannot terminate your tenancy unless your landlord is in breach of his/her obligations, there is a break clause in your lease or both you and your landlord agree at the time to end the tenancy.

Landlord Right to Entry in North Dakota Landlords and tenants can agree on entry notification policies in the lease. Landlords do not need to give notice to enter in the case of emergencies.

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North Dakota Commercial Lease Agreement for Land