In real property law, what is a lease?

A lease in real property law refers specifically to a rental contract that outlines the terms and conditions under which one party (the lessee or tenant) is allowed to occupy and use a property owned by another party (the lessor or landlord) for a specified period in exchange for rent. This legal document is essential as it details the rights and responsibilities of both the landlord and tenant, including aspects like rent amount, payment schedule, duration of the lease, maintenance obligations, and termination conditions.

The focus on "terms of possession" emphasizes the nature of a lease, which revolves around granting possession and use of the property rather than transferring ownership, as is the case with other agreements. This distinction helps clarify the unique legal status of tenants versus homeowners and the temporary nature of their rights to the property.

Other choices, while they relate to real estate transactions, are not correct in defining a lease. A written agreement for real estate transfer implies a permanent transfer of ownership, while a mortgage agreement secures a loan with the property as collateral, and a contract for property sale pertains to the outright sale of property, which involves a change of ownership. These documents serve different purposes in real estate law and do not encapsulate the concept of a lease as a rental