Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership from lawnmowers and washing machines to handbags and jewellry.
Under normal circumstances, a freehold owner of property is at liberty to do what they want with their property, including destroy it or hand over possession of the property to a tenant. However, if the owner has surrendered possession to another (the tenant) then any interference with the quiet enjoyment of the property by the tenant in lawful possession is unlawful. Similar principles apply to real property as well as to personal property, though the terminology would be different. Similar principles apply to sub-leasing, that is the leasing by a tenant in possession to a sub-tenant. The right to sub-lease can be expressly prohibited by the main lease.
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the midwestern and Great Lakes regions of North America. Indiana is the 38th most extensive and the 15th most populous of the 50 United States. Indiana is the least extensive state in the continental US west of the Appalachian Mountains. Its capital and largest city is Indianapolis, the second largest of any state capital and largest state capital east of the Mississippi River.
Before it became a territory, varying cultures of indigenous peoples and historic Native Americans inhabited Indiana for thousands of years. Angel Mounds State Historic Site, one of the best preserved ancient earthwork mound sites in the United States, can be found in Southwestern Indiana near Evansville.
Residents of Indiana are known as Hoosiers. The derivation of the term is disputed, but one hypothesis has “Hoosier” originating from a frontier greeting, a corruption of “Who’s here?” The state’s name means “Land of the Indians,” or simply “Indian Land.” This name dates back to at least the 1760s but was first applied to the region by the United States Congress when the Indiana Territory was incorporated in 1800, separating it from the Northwest Territory. Since its founding as a territory, settlement patterns in Indiana have reflected regional cultural segmentation present in the Eastern United States; the state’s northernmost tier was settled primarily by people from New England and New York, Central Indiana by migrants from the Mid-Atlantic states and from adjacent Ohio, and Southern Indiana by settlers from the Southern states, particularly Kentucky and Tennessee.