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[condriac]

can anyone please tell me what an underlease is? also a form4

it appears to be something to do with property leasing.

[matt_london]

<PRE>A lease is the agreement between (1) the owner of something and (2) the person it is being rented to. If person (2) then decides he has no use for it but his lease has not yet expired, he can rent it out to another party (3). This is an underlease or sublease. So the first letting from the owner (1) to the next person (2) is called the 'Headlease'. Any other further leases of the same property and during the same period are called under leases or sub leases. </PRE>