A type of option where the optionee has the ability to extend the option by making additional option payments that may or may not be applied against the purchase price if the option is turned into an agreement of sale.

With title insurance, a rate that does not include the cost of researching the title or the cost of conducting the close.

Rights of a person regarding the banks, bed, shallows, shore, and water of a stream or body of water upon which his or her land borders.

1) The right to pass over property owned by another, usually based on an easement; 2) A path or thoroughfare over which passage is made; 3) A strip of land over which facilities such as highways, railroads, or power lines are built.

Property owner agrees that, when he decides to sell, the holder of the right of first refusal must have the first opportunity to accept or reject the seller’s offer.

Landlord is responsible to ensure the building is in compliance with the requirements of the law, even with a net or semi-gross lease. Altering the premises to comply with local, state, and federal laws is different than the repair and maintenance requirement for which a tenant is responsible under a net lease: the former is…

This provision differs depending on the type of lease: gross, net, or semi-gross. Gross. Landlord is responsible for repairs and maintenance. Net or Semi-Gross: There is a split between tenant and landlord regarding who is responsible for repairs and maintenance.

Rentable area divided by the useable area. Also known as the add-on factor or load factor.

Items specified in a lease such as base rent, operating expenses, and taxes that may increase by predetermined amounts at stated intervals or by a constant annual percentage.

A period of free or discounted rent given to tenant by lessor.