underlease meaning
noun
A sublease
transitive verb and intransitive verb /-lēsˈ/
To sublease
A sublease
transitive verb and intransitive verb /-lēsˈ/
To sublease
[Business]
AmE / (also underlet) noun [C]
(Property )
1
an agreement in which sb rents all or part of a property from sb who rents it from the owner
2
an agreement in which sb who rents property from the owner rents all or part of it to sb else
SYN SUBLEASE
underlease /; AmE / verb [+ obj or no obj] = UNDERLET
[Law]
n. See SUBLEASE.
Examples
- It is known, for example, that James senior borrowed �2, 000 from a wine merchant in Pelham Crescent, on the security of his underlease of Nos . 50-53 Egerton Crescent.
