Lease Definitions & Terms


General lien

A lien on all property, both real and personal, of a debtor.

Graduated lease

A lease that provides for specific increases or decreases in rent at definite times during the term of the lease.


A person to whom an interest in land is conveyed by deed, grant or other written instrument.


A person who transfers his or her interest in land to another by a written instrument.

Gross rent multiplier

A figure that produces an estimate of the property's value when used as a multiplier of the gross income of a property.

Ground lease

A lease (usually of long duration) of land to a tenant who covenants to erect a building on the premises. The building is security for rentals. If the tenant defaults, the landlord may foreclose on the lease (see Subordinated ground lease).