proprietary lease

Definition of "proprietary lease"
  1. A contract allowing a co-op owner to live in a specified residential unit
How to use "proprietary lease" in a sentence
  1. Based on the terms of the proprietary lease, Mr. Peterson was allowed to live in unit 5B.
  2. He signed a proprietary lease, marking his transition into the co-op living.
  3. The proprietary lease set the guidelines for her stay in the co-op's residential unit.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z