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2 years ago

When a leased property is sold, the previous owner must transfer the security deposit and __________ to the new owner.

Business

1 answer:

kati45 [8]2 years ago

6 0

The only thing sold is the interest of the landlord. The new buyer will acquire both the structure and its tenants.

The lease should have proper legal protection, and tenants will ideally have rights for renewing leases at the end of the contract period, with limited provisions for cancelling the same.

<h3>What is it called when you transfer a lease?</h3>

A lease takeover, also called a lease transfer or a lease assumption, is the process of transferring an auto lease from one person to another. If your lessor allows you to transfer your lease, you may be able to find someone interested in taking over your monthly payments and finishing out your lease.

<h3>How do I transfer my lease to a new owner?</h3>

To make the transfer of a lease legal, complete a Lease Assignment. If the landlord agrees, this can free you of your obligations as the original tenant to the lease, including any remaining interest. All three parties should sign the document: the landlord, the original tenant, and the new tenant.

Learn more about transfer of lease here:

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suter [353]

The Income Statement is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm’s operations over an accounting period.

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3 years ago

what are two significant strengths that can have an impact on your overall success? why do you think so?

Marina CMI [18]

I’d say bad experience or struggles you have went through can strengthen you

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3 years ago

Scott is a 15-year-old student who works at a part-time job and gets paid every two weeks. His paycheck goes directly to his pre

malfutka [58]

Scott was denied the loan because he was not old enough to qualify.

<h3>What is the Payday loan?</h3>

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According to the above situation, Scott is cannot get the payback loan because he is minor to sanction a loan. He must have the age of 18 years or above.

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2 years ago

People need to have _____ in the economy to spend money.

katen-ka-za [31]

People need to have [Purchasing Power] in the economy to be able so spend money. Purchasing power means having the financial ability to spend money in buying goods and services.

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3 years ago

Read 2 more answers

On March 1, a business paid $3,840 for a twelve-month liability insurance policy. On April 1, the business entered into a two-ye

Helen [10]

Answer:

a. Insurance expense for the month of march

= ($3,840 / 12 months) * 1 month

= $320 per month

b. Balance in prepaid insurance as of March 31

= ($3,840 / 12 months) *11 months remaining

= $3,520

c. Equipment rent expense for the month of April

= ($23,160 / 24 months) * 1 month

= $965

d. Balance in prepaid equipment rental as of April 30

= Nil ($0) as it is not mentioned that payment has been made, it is only mentioned that two year rental contract has been entered into.

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3 years ago