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.
Vermont is a state in the New England region of the northeastern United States of America. Vermont is the 6th least extensive and the 2nd least populous of the 50 United States. It is the only New England state not bordering the Atlantic Ocean. Lake Champlain forms half of Vermont’s western border, which it shares with the state of New York. The Green Mountains are within the state. It is bordered by Massachusetts to the south, New Hampshire to the east, New York to the west, and the Canadian province of Quebec to the north.
Originally inhabited by two major Native American tribes (the Algonquian-speaking Abenaki and the Iroquois), much of the territory that is now Vermont was claimed by France in the early colonial period. France ceded the territory to the Kingdom of Great Britain after being defeated in 1763 in the Seven Years’ War (also called the French and Indian War). For many years, the nearby colonies, especially New Hampshire and New York, disputed control of the area (then called the New Hampshire Grants). Settlers who held land titles granted by these colonies were opposed by the Green Mountain Boys militia, which eventually prevailed in creating an independent state, the Vermont Republic. Founded in 1777, during the Revolutionary War, it lasted for fourteen years. Vermont is one of 17 U.S. states (along with Texas, Hawaii, the brief California Republic, and each of the original 13 Colonies) that each once had a sovereign government. In 1791, Vermont joined the United States as the 14th state, the first outside the original 13 Colonies. It abolished slavery while independent and upon joining the Union became the first state to have done so.