Posted by Bill Gatten on March 15, 1999 at 15:51:59:
Literally speaking a “Net” Lease (i.e., paying the net amount of the payment vs. just some part of it)is one wherein the Lessee is contracted to pay itmes in additions to just Rent (usually inurance, taxes and mtce). Other terms such as “triple net,” “double net” etc. are more artful terminologies than legal terms ('prob’ly wont find them in Black’s Law).
However, until Mat’s post, I had not come across “Absolute Lease.” In our program we’ve always referred to the Occupancy/Use Agreement as being “akin” to a “Triple Net Lease” arrangement, as payments include PITI, PMI, HOA and Trustee Fee.
"Abosolute Net Lease… I like that.