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GLOSSARY

Tacit relocation definition

What does Tacit relocation mean?

In relation to leases (and some other contracts eg Partnerships), implied reletting (or continuance) where no notice of termination is given; the renewal is for one year if the lease is for a year or more or for the period of the lease if the lease is for less than a year. Continuance of other contracts is usually from year to year

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