Property Ownership
A 'sandwich lease' in Arizona refers to:
AA short-term vacation lease
BA leasehold interest where the original tenant subleases to a subtenant, with the original tenant paying rent to the landlord and receiving more rent from the subtenant✓ Correct
CA lease for a commercial kitchen space
DA long-term ground lease
Explanation
A sandwich lease creates a 'sandwiched' middle position: the original tenant (sandwich leaseholder) is bound to pay rent to the landlord while collecting higher rent from their subtenant, profiting from the spread.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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