Negotiation
Discussion between two or more parties with the aim of reaching a common agreement.
Nominee
A nominee is an individual or entity, who/which acts on behalf of a beneficial owner.
Non conforming use
The use of a property that does not conform with the allocation of the area for planning purposes. Such a property may have been built in conformity with the planning requirement at the time and subsequently a policy change was effected.
Normal Wear and Tear
The deterioration or loss in value caused by the tenant's normal and reasonable use of the property.
Net Absorption
The square feet leased in a specific geographic area over a fixed period of time after subtracting space vacated in the same area over the same period.
Net Lease
A lease in which the tenant is required to pay, in addition to rent, certain costs associated with the operation of the property like taxes, insurance, repairs, utilities, and maintenance.