Real Estate Terms That You Might Want To Know #1

Thomas Wallace

Teacher, football coach, online marketer and cancer survivor. Degree in Business Management and an advanced degree in physical education and athletic psychology and exercise.

"What doesn't kill you makes you stronger." Avid bicycle racer in my twenties and thirties. Realized I had to keep pedaling to finish the race! I use that logic in everything I do.

I'm truly thankful for all the people that have helped me along this journey! I make sure I do the same for other people.

"You can have everything in life, if you help enough people get what they want." -Zig Zigler

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Thanks to my business interests and working in education for a long time, I soon will have plenty of time to work on another passion of mine…………Real Estate.

I have always wanted a Real Estate License and now I have the time to study and get my license!

So, to help my studying I’ve decided to add some definitions that people like yourself might be interested in.

Assignee:  Party to whom a lease is assigned or transferred.

Leasehold or a Lease:  An agreement, unwritten or written that transfers the right to exclusive possession and use of real estate for a definite time period.

Sublease:  Transfer less than the entire leasehold, with the original lessee being liable.

Estate At Sufferance:  A tenancy that is created when one is in the wrongful possession of real estate even though the original possession may have been originally legal.

I will be adding a whole bunch of definitions so come back often!

Tom Wallace