A transfer of the right to the possession and use of real property for a set term in return for certain consideration is known as a(n) ________.
A) title transfer
B) lease
C) novation
D) easement

Question

Quizplus · Accepted Answer

A lease is a transfer of the right to the possession and use of real property for a set term in return for certain consideration, typically rent. A title transfer refers to the transfer of ownership of real property, not just possession and use. Novation refers to the substitution of a new agreement or contract for an existing one. An easement grants someone the right to use another person's property for a specific purpose or use, but it does not involve a transfer of possession or use of the property for a set term.

A Transfer of the Right to the Possession and Use