The ownership interest of a sublessee.
A lease in which an intermediate, or sandwich, leaseholder is the lessee of one party and the lessor of another. The owner of the sandwich lease is neither the fee owner nor the user of the property; he or she may be a leaseholder in a chain of lease, excluding the ultimate sublessee.
While having the option to buy a property, the investor subleases it to gain positive cash flow.
Leasehold interest that lies between the primary lease and the operating lease; it is created when the lessee enters into a sublease.
A slang term for a sublease, where the tenant is sandwiched between the owner and the subtenant, acting both as lessor and lessee at the same time.
Another term used is "sublease." This is when a tenant has a current lease with the owner of a property and then "sublets" the property to a third party. The tenant is then "sandwiched" between the owner and the end user, acting as lessee and lessor at the same time.
A leasehold estate in which the sandwich party leases the property from the fee owner or another lessee and then sublets to the tenant in possession, thereby maintaining a middle, or "sandwich," position. The sandwich party is the lessee of one party and the lessor of another; thus he or she is neither the fee owner nor the end user of the property. It is a lease occupying a position within three or more leasehold interests in a property.
A lease agreement created when a lessee (tenant) sublets the property to another person, thus creating a sublessor-sublessee relationship. The person in the "sandwich" is a lessee to one party and a lessor to another party.
Lease held by a lessee who becomes a lessor by subletting. Typically, the sandwich leaseholder is neither the owner nor the user of the property.
A lease that lies between the primary lease and the operating lease.
