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.
Title: Oregon Lease or Rental of Vacant Property or Lot with Lessee's Right to Construct Improvements Keywords: Oregon lease, Oregon rental, vacant property lease, vacant lot lease, lessee's right to construct improvements, property development, lease agreements, land utilization, real estate leasing. Description: The Oregon Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements is a comprehensive agreement that allows individuals or businesses to lease vacant property or lots in Oregon for the purpose of construction and improving the property. This type of lease enables lessees to actively participate in developing the land according to their needs and requirements. 1. Vacant Property Lease: This form of lease agreement pertains to properties that are free of existing structures or any prior development. Individuals or businesses seeking a blank canvas to construct or improve upon will find this type of lease most suitable. It offers the flexibility to design and develop structures, amenities, or any other improvements on the vacant property to meet the lessee's vision. 2. Vacant Lot Lease: This lease specifically applies to undeveloped lots that may be part of a larger property or a standalone parcel of land. Lessees can enter into an agreement for a predetermined period, during which they have the exclusive right to utilize, improve, and develop the vacant lot according to their specific needs. This lease type caters to individuals or businesses seeking a specific location to construct their projects, such as residential or commercial buildings, parking areas, or recreational facilities. Benefits of an Oregon Lease or Rental of Vacant Property or Lot with Lessee's Right to Construct Improvements: — Flexibility: Lessees have the freedom to design, construct, and improve the property based on their specific requirements and objectives. — Efficient Land Utilization: This type of lease ensures that vacant properties or lots do not remain unused, but rather are developed and utilized to their full potential. — Cost-Effectiveness: Leasing vacant property or lots for construction allows lessees to avoid the high costs of purchasing land outright, making it a more affordable option for property development. — Opportunity for Profit: Lessees have the potential to generate income or profit from the improvements made on the property, such as through rent from tenants or the sale of the developed property in the future. In summary, the Oregon Lease or Rental of Vacant Property or Lot with Lessee to have the right to Construct Improvements provides individuals or businesses the opportunity to lease vacant properties or lots in Oregon for the purpose of construction and development. With different types of leases available, lessees have the flexibility to transform vacant land into thriving, purpose-built spaces tailored to their unique needs and preferences.
