The interest of one holding as grantee or lessee under an oil and gas lease or lease of oil, gas and other minerals. Such interest includes the right on the part of the lessee to drill and produce, and is subject to the payment to the lessor of a royalty of a stated fraction or percentage of the production, free of operating expense, either in kind or at the prevailing price at the time of production.
The interest which the lessee has in the value of the lease itself in condemnation award determination. The difference between the total remaining rent under the lease, and the rent lessee would currently pay for similar space for the same time period.
The estate and interest a lessee has in real property that was created by a lease.
a bundle of rights a lessee has in respect of a lease
The right to the use of real property created by a lease. If the rent payable on the lease is below the current market, the lease has a number of years to run and is for a very desirable property, etc. the lease can be a valuable asset, particularly if the space can be subleased.
The rights & obligations of the lessee in the property as controlled by the lease agreement.
The limited interest in a property held by a tenant; primarily the right to inhabit it for a specified period of time. At the end of the lease, the property reverts to the owner or landlord.
An intangible use interest that exists when the provisions of a lease stipulate a rental that is greater or less than the prevailing market price of renting similar facilities.
(Intérêt à bail or Intérêt locatif) A tenant in a property has an insurable interest in the use of that property. (e.g. a tenant is able to get a considerable amount of space at a very reasonable rent, but with the passing of years it might cost the tenant considerably more to rent other premises in the same neighbourhood if the original premises are destroyed by fire. It might even be that the tenant, with a long lease at a favourable price). It might even be that the tenant, with a long lease at a favourable price, may have sublet all or part of the premises at a substantial profit. The tenant therefore has an insurable interest in his right to continue the use of the premises and insurance for such is known as ‘Leasehold Interest Insurance'
Property insurance covering the loss suffered by a tenant due to termination of a lease because of damage to the leased premises by a covered loss.
The proprietary interest of a tenant or lessee in respect of property under a lease or tenancy agreement.
The right to hold or use property for a fixed period of time at a given price, without transfer of ownership
the economic interest a tenant has in a favorable lease - i.e., loss of that lease could cause the tenant a financial loss, such as having to pay more rent for replacement premises or losing the value of IMPROVEMENTS & BETTERMENTS made by the tenant. This exposure can be insured against through a Leasehold Interest policy, which covers the tenant's losses from various leasehold interest exposures when property damage caused by an insured peril leads to their loss of the lease on that property. (See TIME ELEMENT COVERAGES)
