No Bonus Clause

A clause under the eminent domain section of a lease, giving the lessee the right to recover only the value of his physical improvements in the event of a taking, and not the value of the leasehold interest (the difference between the fixed rent of the lease and current market rental value). Not applicable in all states.

Real Estate Practice Test - Pass Your Real Estate Exam Now!
RealEstatePracticeTest

More Real Estate Definitons