An agreement to convey a possessory right in real or personal property, but not an ownership right.
A document transferring rights of a tenant under a lease to another, usually with the consent of a landlord.
|Letter of Intent||
A letter intended to convey deal points in a non-binding way for the purpose of achieving the framwork of a deal which can later be memorialized more thoroughly by the legal paperwork.
The use of a loan to acquire property.
A revocable form of permission to use an asset or idea.
A form of holding title that says that conveys a possessory interest to a person for his or her life, and then has the property revert to another upon their death.
|limited liability company (LLC)||
An entity that is less formal than a corporation, but which accomplishes many of the same goals.
|Limited Liability Partnership (LLP)||
An entity of professional partners.
An entity with operating general partners, who incur liability, and non-operational limited partners, whose liability is limited.
A health care directive designed to explain end-of-life medical decisions.