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.
Ohio Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements is a legal agreement between a property owner (lessor) and a lessee, granting the lessee the right to lease and develop a vacant property or lot in the state of Ohio. This type of lease allows individuals or businesses to rent a vacant property or lot for a certain period of time with the added provision that the lessee has the right to construct improvements on the property. These improvements can include building structures, making renovations, installing infrastructure, or any other type of development that enhances the property's value or functionality. The Ohio Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements agreement protects the rights and responsibilities of both parties. It typically contains key provisions such as the lease term, rent payment schedule, maintenance responsibilities, insurance requirements, and specifications for the construction or improvement activities. Different types of Ohio Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements may include: 1. Commercial Lease with Construction Rights: This type of lease is suitable for businesses looking to lease a vacant property or lot for commercial purposes. The lessee may have the intention to construct a commercial building, retail space, or industrial facility on the property. 2. Residential Lease with Building Rights: This type of lease is applicable when individuals or families are looking to rent a vacant lot for residential purposes. The lessee can exercise their right to build a house, construct an accessory dwelling unit, or make significant renovations to an existing structure. 3. Agricultural Lease with Farming Improvements: This type of lease is designed for individuals or businesses interested in leasing agricultural land in Ohio. The lessee may want to construct farming infrastructure such as barns, silos, irrigation systems, or other improvements necessary for agricultural activities. 4. Mixed-Use Lease with Redevelopment Opportunities: This type of lease is ideal for properties that offer a combination of residential, commercial, or industrial potential. The lessee may have the right to construct a mixed-use development, combining residential units with retail, office, or other commercial spaces. By entering into an Ohio Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements, both lessor and lessee can establish a legally binding agreement that allows for property development and ensures the protection of their respective rights and interests.
