Legacy Planning â Dynasty Trust. A dynasty trust is a long-term trust created specifically to benefit descendents of multiple generations. It offers both tax and nontax advantages because it makes the most of the generation-skipping transfer (GST) tax exemption.
B. Anatomy of the Operating Expense Provision. 1. General Statements of Intent. a) Landlord: âThe parties acknowledged that this is a net lease, and the fixed rent set forth above is intended to be payable to the Landlord net of all costs and expenses of ownership and operation of the Building.â b) Tenant.
Operating Expense Ratio. The Operating Expense Ratio (OER) is the ratio of the total operating expenses and the effective gross income of the property. Operating expenses are costs associated with the operation and maintenance of the property. Typical property expenses include such items as property taxes, insurance, pest control, utilities, repairs and maintenance, supplies, advertising, attorney fees, accounting fees, and lawn maintenance. Operating expenses do not include loan payments, mortgage insurance payments, or capital improvements.