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Rental agreement. A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [ 1] As a minimum, the agreement identifies the parties, the property, the term of the ...
Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and after ...
Rent-A-Center, Inc. (commonly referred to as RAC) is an American public furniture and electronics rent-to-own company based in Plano, Texas. [3] The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, Puerto Rico and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count.
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Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [ 1] It is used in a variety of countries for commercial and ...
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