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Under Lease

Defined in 2 dictionaries — Cyclopedic (1922), Black's (1910)

The Cyclopedic Law Dictionary

Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

An alienation by a tenant of a part of his lease, reserving to himself a reversion. It differs from an "assignment," which is a transfer of all the tenant's interest in the lease. 3 Wils. 234; W. Bl. 766. And even a conveyance of the whole estate by the lessee, reserving to himself the rent, with a power of re-entry for nonpayment, was held to be not an assignment, but an under lease. Strange, 405. In Ohio it has been decided that the transfer of a part only of the lands, though for the whole term, is an under lease. 2 Ohio, 216. In Kentucky, such a transfer, on the contrary, is considered as an assignment. 4 Bibb (Ky.) 538. See "Lease."

Black's Law Dictionary

Henry Campbell Black, M.A. · 1910

In conveyancing. A lease granted by one who is himself a lessee for years, for any fewer or less number of years than he himself holds. If a deed passes all the estate or time of the termor, it is an assignment; but, if it be for less portion of time than the whole term, it is an under-lease, and leaves a reversion in the termor. 4 Kent, Comm. 96.