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.
South Dakota is a state located in the Midwestern region of the United States. It is named after the Lakota and Dakota Sioux American Indian tribes. South Dakota is the 17th most extensive, but the 5th least populous and the 5th least densely populated of the 50 United States. Once the southern portion of the Dakota Territory, South Dakota became a state on November 2, 1889. Pierre is the state capital and Sioux Falls, with a population of nearly 160,000, is South Dakota’s largest city.
South Dakota is bordered by the states of North Dakota, Minnesota, Iowa, Nebraska, Wyoming, and Montana. The state is bisected by the Missouri River, dividing South Dakota into two geographically and socially distinct halves, known to residents as “East River” and “West River”. Eastern South Dakota is home to most of the state’s population, and fertile soil in this area is used to grow a variety of crops. West of the Missouri, ranching is the predominant agricultural activity, and the economy is more dependent on tourism and defense spending. The Black Hills, a group of low pine-covered mountains, is located in the southwest part of the state. The Black Hills are sacred to the Sioux. Mount Rushmore, a major tourist destination, is located there. Other attractions in the southwest include Badlands and Wind Cave national parks, Custer State Park, the Crazy Horse Memorial, and historic Deadwood. South Dakota experiences a temperate continental climate, with four distinct seasons and precipitation ranging from moderate in the east to semi-arid in the west. The ecology of the state features species typical of a North American grassland biome.