What is a 'net lease' (NNN lease) in Delaware commercial real estate?
Why A lease where the tenant pays base rent plus their share of property taxes, insurance, and common area maintenance (CAM) charges Is Correct
Answer B: A lease where the tenant pays base rent plus their share of property taxes, insurance, and common area maintenance (CAM) charges
Exam Tip: Property Management
Property management questions cover landlord-tenant law, security deposits, and maintenance responsibilities. Know the differences between gross, net, and percentage leases.
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Key Terms to Know
The division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Math Concepts
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