Real Estate Terms [4]

Apr 23, 2011     Posted under: Investment

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Base Rent: The minimum rent for a commercial property without taking into account any add-ons like percentage of sales/profit that make up the total lease package.

Base Rent Abatement: During any period of reconstruction or repair after a major casualty, it the lessee’s ability to conduct business in the demised premises is materially hindered or impaired, the base rent and any maintenance charges due from the lessee will be abated during the period in which the demised premises is unusable.

Base Year: The year which forms the base for all future calculations of rents or values.

Bearer Instruments: Commercial instruments such as bonds, cheques, etc that give the person having it (bearer) the right to encash it.

Beneficial Interest: An interest in property held by a beneficiary who is not necessarily the owner of the legal interest, for example where a legal estate is owned by a trustee(trustees) under a trust entitling the beneficiary to the financial rewards available after meeting all due obligations.

NitiN Kumar Jain

Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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