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.
Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east. Maryland was the seventh state to ratify the United States Constitution, and three nicknames for it (the Old Line State, the Free State, and the Chesapeake Bay State) are occasionally used. Maryland is the 9th least extensive, but the 19th most populous and the 5th most densely populated of the 50 United States. The state’s most populated city is Baltimore. Its capital is Annapolis. It was named after Queen Henrietta Maria.
Maryland has an area of 12,406.68 square miles (32,133.2 km2) and is comparable in overall area with the European country of Belgium (11,787 square miles (30,530 km2)). It is the 42nd largest/9th smallest state, and is closest in size to Hawaii (10,930.98 square miles (28,311.1 km2)), the next smallest state. The next largest state, Maryland’s neighbor West Virginia, is almost twice the size of Maryland (24,229.76 square miles (62,754.8 km2)).