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.
Wisconsin is a U.S. state located in the north-central United States and is part of the Midwest and Great Lakes regions. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin is the 23rd most extensive and the 20th most populous of the 50 United States. Wisconsin’s capital is Madison, and its largest city is Milwaukee. The state comprises 72 counties.
The word Wisconsin originates from the name given to the Wisconsin River by one of the Algonquian speaking American Indian groups living in the region at the time of European contact. French explorer Jacques Marquette was the first European to reach the Wisconsin River and record its name, arriving in 1673 and calling the river Meskousing in his journal. This spelling was later corrupted to Ouisconsin by other French explorers, and over time this version became the French name for both the Wisconsin River and the surrounding lands. English speakers anglicized the spelling to its modern form when they began to arrive in greater numbers during the early 19th Century. The current spelling was made official by the legislature of Wisconsin Territory in 1845