The Law Dictionary

Featuring Black’s Law Dictionary Free Online Legal Dictionary 2nd Ed.


Lease type. The tenant. or lessee, is accountable only for a fixed fee or rent. The owner pays all other expenses, service fees, and taxes. Insurance, maintenance, and taxes are examples of expenses. Garbage collection, security, and utilities are examples of fees on a leased property. An operating lease is a gross lease whereas a capital lease is not. Also refer to net lease.


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