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Single Net Lease.

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A single net lease is a type of lease agreement where the tenant is responsible for paying a portion of the property taxes, building insurance, and/or common area maintenance in addition to the base rent. The specific expenses that the tenant is responsible for will be outlined in the lease agreement. What are the key … Read more

Modified Endowment Contract (MEC).

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A Modified Endowment Contract (MEC) is a life insurance policy that has been altered in such a way that it no longer meets the requirements of the Internal Revenue Code. This means that the policy is no longer eligible for the tax breaks that are typically associated with life insurance policies. There are a few … Read more