Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

Triple Net Lease

It is a lease agreement where it is agreed by the tenant or leasee that he would pay all maintenance bills ( repairs, upgrades), property taxes and the insurance of that property , in addtion to the normal agreed rent.The rent is comparatively lower but the owner of the property is relieved as his financial responsibilities towards taxes,insurance and maintenance are taken care of by the leasee.

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved