Deeds

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Deeds Leases

• Jim Burton, Ph. D.
• Marketing Real Estate
• College of Business

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Overview

• A Valid Deed
• Types of Deeds
• Types of Leases
• Lease terms conditions
• Lessor Lessee duties

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A Valid Deed

• Designation of the Parties
• Consideration Given
• Legal Description of the property
• Specify Interests Conveyed
• Signatures of Proper Parties
• Witness Notary Public

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Types of Deeds

• General Warranty Deed
• Limited (Special) Warranty Deed
• Bargain Sale Deed - warranty deed without
  covenants.
• Quitclaim Deed
• Deed to Secure Debt
• Deed of Trust

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Lease Essentials

• Legally Competent Parties
• Legal Objective
• Mutual Agreement
• Consideration
• In Writing is NOT Essential

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Tenancies

• Lessor Landlord
• Lessee Tenant
• Tenancy for Years
• Tenancy from Period to Period
• Tenant at Will
• Tenant at Sufferance

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Types of Leases

• Percentage Lease
• Index Lease
• Net Lease
• Gross Lease
• Modified Gross Lease
• Graduated Lease
• Reappraisal Lease

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Lease Clauses

• Lessor provides quiet enjoyment
• Lessee uses legally
• Lessee pays rent
• Security Deposit
• Subletting
• Repairs/Maintenance
• Utilities
• Insurance

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Negotiated Lease Covenants

• Lease-Purchase Option
• Right of Renewal
• Subordination to Mortgage
• Contents Insurance
• Mechanics Liens
• Damage to Premises
• Destruction of Premises
• Governmental Compliance

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Termination of Leases

• Expired Term
• Mutual Agreement
• Eviction
• Condemnation
• Mortgage Foreclosure

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Other Subjects

• Ground Lease
• Sale-Leaseback
• Leasehold Interests
• Leasehold Financing
• Tenant Unions

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