Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership from lawnmowers and washing machines to handbags and jewellry.
Under normal circumstances, a freehold owner of property is at liberty to do what they want with their property, including destroy it or hand over possession of the property to a tenant. However, if the owner has surrendered possession to another (the tenant) then any interference with the quiet enjoyment of the property by the tenant in lawful possession is unlawful. Similar principles apply to real property as well as to personal property, though the terminology would be different. Similar principles apply to sub-leasing, that is the leasing by a tenant in possession to a sub-tenant. The right to sub-lease can be expressly prohibited by the main lease.
Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland waterways. The state ranks 23rd in population with 4.7 million residents in 2009.
From the American Civil War until World War II, Alabama, like many Southern states, suffered economic hardship, in part because of continued dependence on agriculture. Despite the growth of major industries and urban centers, white rural interests dominated the state legislature until the 1960s, while urban interests and African Americans were under-represented. Following World War II, Alabama experienced growth as the economy of the state transitioned from agriculture to diversified interests in heavy manufacturing, mineral extraction, education, and technology. In addition, the establishment or expansion of multiple military installations, primarily those of the U.S. Army and U.S. Air Force, added to state jobs.
Alabama is unofficially nicknamed the Yellowhammer State, after the state bird. Alabama is also known as the “Heart of Dixie.” The state tree is the Longleaf Pine, the state flower is the Camellia. The capital of Alabama is Montgomery. The largest city by population is Birmingham. The largest city by total land area is Huntsville. The oldest city is Mobile, founded by French colonists.