A lease is a(n):
A) payment for use of an estate
B) unwritten, informal agreement concerning use of a piece of property
C) agreement between a landlord and the court system
D) agreement that creates a leasehold out of an estate and contains conditions
E) none of the other choices are correct

Question

Quizplus · Accepted Answer

A lease is an agreement that creates a leasehold out of an estate and contains conditions, such as the duration of the lease, the rental amount, and any restrictions on the use of the property. Option A may describe a lease payment, but not the lease itself. Option B is incorrect because leases are usually written, formal agreements. Option C is not accurate because a lease is an agreement between a landlord and a tenant, not the court system. Option E is incorrect because option D is correct.

A Lease Is A(n)