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.
Ohio is a Midwestern state in the United States. Ohio is the 34th most extensive, the 7th most populous, and the 10th most densely populated of the 50 United States. The state’s capital is Columbus.
The Anglicized name “Ohio” comes from the Iroquois word ohi-yo’, meaning “great river”. The state, originally partitioned from the Northwest Territory, was admitted to the Union as the 17th state (and the first under the Northwest Ordinance) on March 1, 1803. Although there are conflicting narratives regarding the origin of the nickname, Ohio is historically known as the “Buckeye State” (relating to the Ohio buckeye tree) and Ohioans are also known as “Buckeyes”.
The government of Ohio is composed of the executive branch, led by the Governor; the legislative branch, which comprises the Ohio General Assembly; and the judicial branch, which is led by the Supreme Court. Currently, Ohio occupies 18 seats in the United States House of Representatives. Ohio is known for its status as both a swing state and a bellwether in national elections.