What is a triple tenant?

(pronounced “triple-A tenant”but written as AAA tenant) Commercial tenant with the best possible credit rating and the least likely possibility of default. Owners can secure better selling prices or better financing terms if they have such tenants in their property.

What is Triple A real estate?

Pros of Triple Net Leases A triple net lease is an agreement between a property owner and a tenant where the tenant pays property taxes, insurance premiums, and maintenance upkeep and repairs, in addition to a monthly rental fee of the building or space.

What does AAA mean in real estate?

ADDITIONAL AGENT ACKNOWLEDGEMENT
ADDITIONAL AGENT ACKNOWLEDGEMENT. Page 1. ADDITIONAL AGENT ACKNOWLEDGEMENT. (C.A.R. Form AAA, Revised 11/14) This is an addendum to the California Residential Purchase Agreement, Other (“Agreement”), dated , on property known as between (“Buyer/Tenant”) and (“Seller/Landlord”).

Can you negotiate a triple net lease?

Absolutely not! There are many areas where a tenant can negotiate a NNN lease to make it more favorable. If the tenant is taking on all responsibility and risk of the landlord’s overhead, then the tenant may be able to negotiate a more favorable base rental amount.

What is additional agent Acknowledgement?

AAA [Additional Agent Acknowledgement] is used when more than 1 Listing or Buyer’s Agent in the same KW Market Center is involved in a transaction. Listing Agent(s) If more than 1 Agent is involved representing the Seller as a Listing Agent, then use the AAA form.

Can a joint tenant own more than half of the property?

The owners are called joint tenants. In most states, joint tenants must own equal shares; for example, you can’t have one joint tenant who owns a half-interest in the property and two others who own a quarter-interest each.

How to find out if real estate is held in joint tenancy?

To see whether or not real estate owned by the deceased person was held in joint tenancy, check the deed that transferred the property into the names of the joint tenants. What you see may not be completely easy to understand.

Can a tenant store property in a common area?

Landlords often put rules in the lease that tenants can’t store property in common areas (bicycles in hallways, couches on porches, etc.) and there are state and local ordinances against blocking passageways or otherwise causing fire hazards.

What does it mean to have property as a tenant?

Tenant property means all of the tenant’s possessions, including: and even things the landlord thinks are trash. NOTE: These rules do not cover property in a self-storage facility. That has different rules found in Wis. Stats. 704.90 .

Can a landlord rent a property to a third party?

Therefore, in theory, one tenant has the right to rent the entire property to a third party. However, no one tenant has a right to encumber another tenant’s interest — for instance, by putting a mortgage on the property — or to exclude any of the other tenants from possession the property.

What happens when three or more people own a property?

If the ownership interests among three or more joint tenants are held in unequal shares, the share of the deceased owner is divided among the surviving joint tenants according to their respective pro rata interests, unless the creating instrument provides otherwise.

The owners are called joint tenants. In most states, joint tenants must own equal shares; for example, you can’t have one joint tenant who owns a half-interest in the property and two others who own a quarter-interest each.

When does a joint tenant lose their interest in the property?

Historically, joint tenancy ownership implied that a joint tenant lost all interest in their property when they died. The deceased person’s interest was automatically transferred to the other joint tenant. So, in a joint tenancy, the last surviving joint tenant owned all the property outright. Creation of a joint tenancy.