The lease is a contract between the owner and the tenant that transfers exclusive use and possession of the space to the tenant in return for rent or other consideration. In this arrangement, the owner is referred to as the:
A) lessor
B) lessee
C) agent
D) benchmark

Question

Quizplus · Accepted Answer

The lessor is the owner of the property who is entering into the lease contract with the lessee. The lessee is the tenant who is being granted the exclusive use and possession of the space in exchange for rent or other consideration. The agent is not typically a party to the lease contract, and benchmark is not a relevant term in this context.

The Lease Is a Contract Between the Owner and the Tenant