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.
New York is a state in the Northeastern region of the United States. New York is the 27th most extensive, the 3rd most populous, and the 7th most densely populated of the 50 United States. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east. The state has a maritime border with Rhode Island east of Long Island, as well as an international border with the Canadian provinces of Ontario to the north and west, and Quebec to the north. The state of New York is often referred to as New York State to distinguish it from the city of New York.
New York City, with a population of over 8.1 million, is the most populous city in the United States. It is known for its status as a financial, cultural, transportation, and manufacturing center, and for its history as a gateway for immigration to the United States. According to the U.S. Department of Commerce, it is also a destination of choice for many foreign visitors. Both the state and city were named for the 17th century Duke of York, James Stuart, future James II and VII of England and Scotland.