Updated on December 13th, 2020
The Tennessee commercial lease agreement is designed to convey possession to a lessee in regard to property that will be used to contain a business operation. When an individual is looking to find space to situate their company, they will need to select a building that is commercially zoned. After finding a property that is in an ideal location, they must have a meeting of the minds with the owner or their representation to see if they can come to a compromise on the conditions of the lease.
Some principal conditions that should be established include how the expenses will be configured (gross, modified gross, or triple net), the length of time the tenancy will remain active, and what the primary use of the premises will be. If the parties can settle on these matters, they can input the data into the form and endorse it within the necessary areas. (Users of this document should wait to sign until in the presence of a notarized official in order to further validate the contract.)
Disclosure Laws – § 66-7-108