Concurrent Lease Law and Legal Definition

The term Concurrent lease refers to a lease that begins before a previous lease ends and entitling the new lessee to be paid all rents and to appropriate remedies against the holding tenant. In this kind of lease, a landlord who has granted a lease again grants another lease of the same land for some of the term of the first lease. The second lease does not deprive the lessee under the first lease of the right to possession of the property but it is actually a lease of reversion. The two leases exist concurrently during some part of their respective terms and are therefore known as concurrent leases.