The lease is silent and the tenant no longer wants to stay in lease They find another individual to move in and pay the rent The new tenant agrees to all the old terms and conditions of the full lease and agrees to make all payements. This is called an) 2 (one word)

The lease is silent and the tenant no longer wants to stay in lease They find another individual to move in and pay the rent The new tenant agrees to all the old terms and conditions of the full lease and agrees to make all payements. This is called an) 2 (one word)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 32P

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Concept explainers

Leasing

Leasing is a contractual arrangement in which someone (a lessee) pays the owner (or lessor) of a building, land, vehicle, or other asset for the use of that asset. The lease is the agreement between lessee and lessor.

Question

The lease is silent and the tenant no longer wants to stay in lease. They find another individual to move in and pay the rent. The new tenant agrees to all the old
terms and conditions of the full lease and agrees to make all payments. This is called a(n)
2 (one word)

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