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Hello,
In the definition of investment property, its says, property that are held by its owner or by a lessee as a right of use asset.
I am a bit confused with that part ” by a lessee as a right of use asset”? Could you please help me on that?
Thanks
Barry leases a building to Harry.
Harry sub-leases building to Carrie.
Harry is a lessee. He will have a right of use asset (and lease liability).
As he is sub-letting to Carrie, the right of use asset is an investment property.
Well, you did ask 🙂 🙂 🙂
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