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.
Virginia, officially the Commonwealth of Virginia, is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the “Old Dominion” and sometimes the “Mother of Presidents” after the eight U.S. presidents born there. The geography and climate of the Commonwealth are shaped by the Blue Ridge Mountains and the Chesapeake Bay, which provide habitat for much of its flora and fauna. The capital of the Commonwealth is Richmond; Virginia Beach is the most populous city and Fairfax County the most populous political subdivision. The Commonwealth’s population is over eight million.
The area’s history begins with several indigenous groups, including the Powhatan. In 1607 the London Company established the Colony of Virginia as the first permanent New World English colony. Slave labor and the land acquired from displaced Native American tribes each played a significant role in the colony’s early politics and plantation economy. Virginia was one of the 13 Colonies in the American Revolution and joined the Confederacy in the American Civil War, during which Richmond was made the Confederate capital and Virginia’s northwestern counties separated to form the state of West Virginia. Although the Commonwealth was under conservative single party rule for nearly a century following Reconstruction, both major national parties are competitive in modern Virginia.