Military Clause

AAA

DEFINITION of 'Military Clause'

A clause found in most residential leases that permits military personnel to get out of their rental lease. The military clause allows military personnel that are called up to get back their security deposit if they are called into duty. This eliminates a worrisome headache for armed forces personnel.

INVESTOPEDIA EXPLAINS 'Military Clause'

The military clause is one more benefit available to members of the U.S. military. This clause is usually incorporated into leases of dwelling units around military bases. This clause allows landlords to reduce their vacancies by accommodating military tenants.

RELATED TERMS
  1. IRS Publication 3 - Armed Forces' ...

    A document published by the Internal Revenue Service that outlines ...
  2. Leaseback

    An arrangement where the seller of an asset leases back the same ...
  3. Lessee

    The person who rents land or property from a lessor. The lessee ...
  4. Lessor

    The owner of an asset that is leased under an agreement to the ...
  5. Incontestability Clause

    A clause in most life insurance policies that prevents the provider ...
  6. Graduated Lease

    A type of long-term, typically for commercial property, lease ...
Related Articles
  1. Tips For The Prospective Landlord
    Home & Auto

    Tips For The Prospective Landlord

  2. Preparing Finances For Deployment: A ...
    Personal Finance

    Preparing Finances For Deployment: A ...

  3. Housing Cooperatives: A Unique Type ...
    Home & Auto

    Housing Cooperatives: A Unique Type ...

  4. Sell Your Rental Property For A Profit
    Taxes

    Sell Your Rental Property For A Profit

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center