Lease Agreements
Lease Agreements
An agreement, usually written, between the lessor and the lessee, which allows for the conveyance of property to the tenant under a contract, and confers usage and control rights to the tenant for the duration of lease.
A lease agreement is a contract allowing one party (the lessor) to take possession of property owned by another (the lessee). The lessor has an option to buy the property from the lessee at an agreed-upon price at some point in time during the lease term.
lease is an implied or written agreement specifying the conditions under which a lessor accepts to let out a property to be used by a lessee. The agreement promises the lessee use of the property for an agreed length of time while the owner is assured consistent payment over the agreed period
