Definition : Lease

An agreement whereby the lessor (landlord), for a certain period of time, provides a lessee (tenant) with the enjoyment of a private portion in consideration of the payment of rent. The lease usually includes the respective obligations of the parties as well as the terms and conditions of the rental. The co-owner-lessor must, before the signing of the lease, give his lessee a copy of the by-laws of the immovable and of their amendments. These by-laws form an integral part of the lease. In addition, the co-owner renting his private portion is compelled to inform the syndicate of co-owners thereof and to give to it the lessee’s name. The syndicate of co-owners may, after notice to the lessor and the lessee, apply for the resiliation of the lease of a private portion when the breach of an obligation by the lessee causes serious harm to a co-owner or other occupant of the immovable.

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