Fixed Term Lease

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Fixed Term Lease

A lease binding the parties to each other for a specified period of time, such as a month or a year. That is, the fixed-term lease requires the lessee to make periodic payments and requires the lessor to surrender use of his/her property. A fixed term lease is also called (somewhat misleadingly) a tenancy for years.
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As common hold will replace fixed-term leases, owners will not be confronted with the problem of wasting assets as leases run down.
Late in 2002 St Modwen bought the Alstom Transport train making site at Washwood Heath in Birmingham as part of a pounds 111 million sale and leaseback deal with the debt-laden French group, which took fixed-term leases of between five and 15 years on most of the properties.
Fixed-term leases also protect them from technical obsolescence, and let them plan the cash flow necessary to meet a fixed payment schedule.
The debt-laden French group sold its UK real estate portfolio, 19 properties, providing 8 million sq ft on 50 acres, to take fixed-term leases of between five and 15 year.