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  1. cross lease

    • n.
      a contract by which a block of flats or townhouses is held in joint ownership, with each unit leased from the group as a whole, usually as a way of bypassing planning restrictions
    • v.
      place (a block of flats or townhouses) in joint ownership, with each unit leased from the group as a whole, usually as a way of bypassing planning restrictions
    • verb: cross-lease, 3rd person present: cross-leases, gerund or present participle: cross-leasing, past tense: cross-leased, past participle: cross-leased

    • 釋義

    名詞

    • 1. a contract by which a block of flats or townhouses is held in joint ownership, with each unit leased from the group as a whole, usually as a way of bypassing planning restrictions many cross leases were created with buildings of different ages a cross lease property

    動詞

    • 1. place (a block of flats or townhouses) in joint ownership, with each unit leased from the group as a whole, usually as a way of bypassing planning restrictions decisions require the unanimous support of all owners where the properties are cross-leased