What exactly is meant by "demised property"?

Full question:

What exactly is meant by "demised property"?

  • Category: Courts
  • Subcategory: Legal Definitions
  • Date:
  • State: National

Answer:

It means property that transfers upon a death, typically under a will.

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FAQs

A lease is a contractual agreement where a landlord allows a tenant to use property for a specified period in exchange for rent. Demise, in this context, refers to the transfer of property rights, often used in legal documents to indicate the granting of a leasehold interest. Essentially, while a lease is the agreement, the term 'demise' describes the act of granting that interest.