3 . Landlord L owns two contiguous parcels of land. L leases both parcels to Tenant T...
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Question:
Landlord L owns two contiguous parcels of land. L leases both parcels to Tenant T for $ per month per parcel or a total of $ per year; the rent is payable at the end of each year. The lease is for a year period. Upon the following events, which occur more than one year after the lease is signed, what are the results:
aTo L if L sells the right to the rents on both parcels, prior to any rental payments being due or paid, to a third party for $
bTo L if T pays L $ to cancel the leases on both parcels?
dTo T if after subleasing one of the parcels of land to S for $ per month for a five year period, S pays T $ for all Ts rights in the lease on that parcel and L releases T from the lease and accepts S as the new tenant?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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