DEMISING Meaning and
Definition
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Demising is a term used primarily in the context of real estate and property leases. It refers to the action or process of transferring or terminating possession or control of a property from one party to another. More specifically, demising involves the granting or conveying of a leasehold interest or right to occupy a property to a tenant or lessee.
In essence, when a property is demised, it means that the owner or landlord is legally giving up their exclusive rights to the property and allowing someone else, the tenant, to possess and use it for a specified period of time. The demising process typically involves the drafting and signing of a lease agreement that outlines the terms and conditions of the tenancy, including the duration, rental payment, and any restrictions or obligations on both parties.
During the demising process, the property is often inspected and documented to ensure its condition before the tenant takes possession. This is important as it forms the basis for future comparisons, especially during the end of the lease when the property is handed back to the landlord. Additionally, demising may include the transfer of keys, security codes, or access cards, allowing the tenant to enter and use the property.
Overall, demising represents a crucial step in establishing a legal and enforceable tenant-landlord relationship, providing clarity and defining the rights and responsibilities of both parties throughout the lease term.
Common Misspellings for DEMISING
Etymology of DEMISING
The word "demising" is derived from the Middle English verb "demysen" or "demesen", which was originally borrowed from Anglo-French. Its ultimate root can be traced back to the Latin word "dēmissus", which means "to send down" or "to let go". Over time, the word "demising" has been used to refer to the act of transferring or leasing a property, typically through a legal agreement known as a "lease" or "demise".
Similar spelling word for DEMISING
Conjugate verb Demising
CONDITIONAL
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