March 19, 2023
What Does Severance Mean in the Context of Real Estate?
Real EstatekivablgWhen it comes to real estate, severance can have two different meanings. First, severance can refer to the breaking of a lease. If one tenant moves out of a property before the lease is up, that tenant is said to have severed the lease. This can happen for several reasons, such as the tenant moving out of state or selling the property. Second, severance can refer to a tenant’s payment when they move out of a property before the lease is up. This payment is meant to compensate the tenant […]
