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Term of years
Meaning
Noun
●
In Law & Real estate:
An
estate in land
held
under a
lease
which is not
perpetual
or
indefinite
in
length
, though in some
cases
may be
contingent
on some
guaranteed
occurrence.
●
In Law & Real estate:
The
lease
under which that
estate in land
is held.
●
In Real estate:
Used
other than
figuratively
or
idiomatically
: see
term
, year.
Sourced from
Wiktionary
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