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.
Massachusetts, officially the Commonwealth of Massachusetts, is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. Massachusetts is the 7th least extensive, but the 14th most populous and the 3rd most densely populated of the 50 United States. The state features two separate metropolitan areas – the eastern Boston metropolitan area and the western Springfield metropolitan area. Approximately two thirds of the state’s population lives in Greater Boston, most of which is either urban or suburban. Western Massachusetts features one urban area – the Knowledge Corridor along the Connecticut River – and a mix of college towns and rural areas. Massachusetts is the most populous of the six New England states and has the US’s sixth highest GDP per capita.
Massachusetts has played a significant historical, cultural, and commercial role in American history. Plymouth was the site of the colony founded in 1620 by the Pilgrims, passengers of the Mayflower. Harvard University, founded in 1636, is the oldest institution of higher learning in the United States. In 1692, the towns surrounding Salem experienced one of America’s most infamous cases of mass hysteria, the Salem Witch Trials. In the 18th century, the Protestant First Great Awakening, which swept the Atlantic world, originated from the pulpit of Northampton, Massachusetts preacher Jonathan Edwards. In the late 18th century, Boston became known as the “Cradle of Liberty” for the agitation there that led to the American Revolution and the independence of the United States from Great Britain. In 1777, General Henry Knox founded the Springfield Armory, which during the Industrial Revolution catalyzed numerous important technological advances, including interchangeable parts. In 1786, Shays’ Rebellion, a populist revolt by Western Massachusetts farmers, led directly to the United States Constitutional Convention. Before the American Civil War, Massachusetts was a center for the temperance, transcendentalist, and abolitionist movements. In 1837, Mount Holyoke College, the United States’ first college for women, was opened in the Connecticut River Valley town of South Hadley. In the late 19th century, the (now) Olympic sports of basketball and volleyball were invented in the Western Massachusetts cities of Springfield and Holyoke, respectively. In 2004, Massachusetts became the first U.S. state to legally recognize same-sex marriage as a result of the decision of the state’s Supreme Judicial Court. The state has contributed many prominent politicians to national service, including members of the Adams family and of the Kennedy family.