Which of the following is not a characteristic of a lease?

Question

Quizplus · Accepted Answer

Payment of rent by the lessor is not a characteristic of a lease. In fact, it is the lessee who pays rent to the lessor in exchange for the right to use and occupy the leased property. The other characteristics of a lease include exclusive possession (the lessee has the right to use and occupy the property to the exclusion of others), certainty of duration (the lease has a fixed term or duration), and separation of ownership and possession (the lessor retains ownership of the property while the lessee has the right to use and occupy it).

Which of the Following Is Not a Characteristic of a Lease