1. TASK: Insert the appropriate word in the text below:
arrangement - assigns - directly - enter into - exposure
hedging - simultaneously - space - subsequently - thereby
Sublease
In real estate law, sublease (or, less formally, sublet) is the name given to an _________ in which the lessee (e.g. tenant) in a lease _________ the lease to a third party, _________ making the old lessee the sublessor, and the new lessee the sublessee, or subtenant. This means they are not only leasing the property, but also subleasing it _________. For example, if a company leases an office space _________ from a landlord, the lessor, and _________ outgrows the office, then the company can sublease the smaller office _________ to another company, the subtenant, and _________ a new lease for a larger office space, thereby _________ their real estate _________.
2. CHECK YOUR SPEAKING
|
arrangement |
[ əˈreɪndʒmənt ] |
домовленысть |
|
assigns |
[ əˈsaɪn ] |
призначити |
|
directly |
[ dəˈrektli ] |
безпосередньо |
|
enter into |
[ ˈentə(r) ] [ ˈɪntə ] |
увійти, підписати |
|
exposure |
[ ɪkˈspəʊ.ʒər ] |
схильність |
|
hedging |
[ hedʒ ] |
захист, страхування |
|
simultaneously |
[ ˌsɪmlˈteɪniəsli ] |
одночасно |
|
space |
[ speɪs ] |
місце |
|
subsequently |
[ ˈsʌb.sɪ.kwənt ] |
як наслідок, надалі |
|
thereby |
[ ˌðeəˈbaɪ ] |
тим самим |
3. SEE CORRECT ANSWER
Sublease
In real estate law, sublease (or, less formally, sublet) is the name given to an arrangement in which the lessee (e.g. tenant) in a lease assigns the lease to a third party, thereby making the old lessee the sublessor, and the new lessee the sublessee, or subtenant. This means they are not only leasing the property, but also subleasing it simultaneously. For example, if a company leases an office space directly from a landlord, the lessor, and subsequently outgrows the office, then the company can sublease the smaller office space to another company, the subtenant, and enter into a new lease for a larger office space, thereby hedging their real estate exposure.
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