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A headlease is a lease granted out of the freehold and an underlease is one granted out of a headlease. There may be any number of underleases (sometimes described as sub-underleases, sub-sub-underleases and so on), but each underlease must expire before the one out of which it is granted.

A headlease is the primary lease that is signed between a tenant and a property manager. The tenant, or head lessee, is contractually responsible for the terms of the lease, and in most lease agreements, they have the ability to sublease the space if they so wish.

Head Lessor - the landlord may grant a lease of the whole building to a party (company or individual) who then grants 'under leases' to the leaseholders of individual flats. In this scenario, the Head Lessor becomes the landlord of the individual flats.

A superior lease, also known as a 'Head Lease' is the lease held by a landlord when they are not the owner of the property but also leasing the property from someone else. The Superior Lease sets out conditions that the landlord has agreed with the Superior Landlord.

lease will commonly be a long lease for the whole of the property, carrying the burden of such things as repairing and insuring the building. Alternatively, in a mixed use building, either or both of the residential and commercial areas may be demised under a headlease.

What happens to an underlease when the headlease ends? If the headlease is forfeited because the tenant has breached its terms, the underlease will end automatically. The undertenant can apply for relief from forfeiture but the court has a wide discretion as to the terms upon which this might be granted.

A head lease is a primary commercial lease between a landlord and tenant, wherein the tenant is given the ability to sublease the premises to subtenants. Under a head lease, the District is the building owner's tenant and the building owner is the landlord.