building-lease

A company signs a building-lease for a new office space.

Definition

1. Noun:
   • A lease of land for building purposes: "building-lease" refers to a contractual agreement where a landowner grants a tenant the right to use land specifically for the construction of buildings or structures. The tenant typically builds on the land and may own the buildings during the lease term, but the land remains the property of the lessor.

Usage Examples

• Noun:
  • The developer signed a building-lease with the city to construct a new office tower. (A contract to use land for building a commercial structure.)
  • Under the building-lease, the tenant must pay ground rent and maintain the property. (The lease specifies obligations for the land user.)
  • A building-lease often lasts for decades to allow the tenant to recoup construction costs. (A long-term rental agreement for building purposes.)

Advanced Usage

• "building-leasehold": the interest or right held by a tenant under a building-lease.

  • The company acquired a building-leasehold for the industrial park. (The right to use land for building under a lease.)

• "building-lease agreement": another term for the lease contract itself.

  • The building-lease agreement includes clauses about property improvements. (The formal document outlining terms.)

Variants and Related Words

• Building (n): a structure with walls and a roof, such as a house or factory.
  • The building was completed last year. (A physical structure.)
• Lease (n): a contract granting use of property for a specified time in exchange for payment.
  • They signed a lease for the apartment. (A rental agreement.)

Synonyms

• Ground lease: a lease of land, often for development.
• Land lease: a rental agreement for land, typically for construction.

Related Idioms

• "On a building-lease": used to describe property held under such an arrangement.
  • The factory operates on a building-lease from the city. (The factory uses land via a building-lease contract.)