NON-TAX LEASE
\nˈɒntˈaks lˈiːs], \nˈɒntˈaks lˈiːs], \n_ˈɒ_n_t_ˈa_k_s l_ˈiː_s]\
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A sales contract that is conditional, wherein the transfer of an asset is considered to be a loan, with the owner acting as the lenderand the tenant acting as the borrower. Thus, the owner is only eligible to claim the interest portion of the lease payment for expenses.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).