A master lease is the original lease agreement between the previous lessor and lessee.
Master leases set the primary terms and conditions for leasing the property before any subleasing or other arrangements are made.
Key Functions of Master Lease:
Define the duration of the lease.
Specifies the rental payments
Outlines the rights and obligations of both parties.
Sets the framework for any potential subleasing arrangements.
Serves as the foundational document for any subsequent lease modifications or transfers.
