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.
North Dakota is a state located in the Midwestern region of the United States, along the Canadian border. The state is bordered by Canada to the north, Minnesota to the east, South Dakota to the south and Montana to the west. North Dakota is the 19th most extensive, but the 3rd least populous and the 4th least densely populated of the 50 United States. North Dakota was created from the northern portion of the Dakota Territory and admitted to the Union on November 2, 1889, simultaneously with South Dakota.
The state capital is Bismarck and the largest city is Fargo. The primary public universities are located in Grand Forks and Fargo. The U.S. Air Force operates air bases at Minot AFB and Grand Forks AFB.
For more than a decade, the state has had a strong economy, with unemployment lower than the national average, job and population growth, and low housing vacancies. Much of the growth has been based on development of the Bakken oil shale fields in the western part of the state, but it has also had growth in the technology and service sectors. Flooding in June 2011 has caused extensive damage to Minot and threatened Bismarck, the capital city.