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KembaraXtra – Legal Terms – Lease
A lease is a legal agreement in which a property owner (the landlord) grants another person (the tenant) exclusive possession of the property for a specified period, usually in return for rent. A key feature of a lease is exclusive possession, meaning the tenant has the right to control the property and exclude others, including the landlord (subject to agreed rights).
Leases must generally be created by deed to be legally valid, although exceptions exist. They include various types such as fixed-term leases and periodic tenancies. Leases also impose obligations on both parties, including the landlord’s duty to ensure quiet enjoyment and the tenant’s duty to pay rent and maintain the property in a reasonable condition. Statutory protections often regulate leases, especially in residential contexts.
A lease is a legal agreement in which a property owner (the landlord) grants another person (the tenant) exclusive possession of the property for a specified period, usually in return for rent. A key feature of a lease is exclusive possession, meaning the tenant has the right to control the property and exclude others, including the landlord (subject to agreed rights).
Leases must generally be created by deed to be legally valid, although exceptions exist. They include various types such as fixed-term leases and periodic tenancies. Leases also impose obligations on both parties, including the landlord’s duty to ensure quiet enjoyment and the tenant’s duty to pay rent and maintain the property in a reasonable condition. Statutory protections often regulate leases, especially in residential contexts.
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