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A lease is a contract between two parties where one party, the lessor, allows the other party, the lessee, use of their property for a period of time in exchange for consideration, usually a monthly sum of money. The original owner ultimately retains possession of the property.

The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.

A lease is a legal agreement by which the owner of a building, a piece of land, or something such as a car allows someone else to use it for a period of time in return for money.

A lessee is a person who rents land or property from a lessor. The lessee is also known as the ?tenant? and must uphold specific obligations as defined in the lease agreement and by law. The lease is a legally binding document, and if the lessee violates its terms they could be evicted.

There are various types of lease, for example, absolute, lease in perpetuity, periodic lease, lease for a fixed term and derivative. Section 106 of the Transfer of Property Act, 1882 provides for the duration of a lease, which is an essential element of every lease.

Leases are contracts that allow an entity to obtain the use of (or to purchase) equipment or real estate. They are similar to long term rental agreements where the lessee uses the equipment for a period of time in return for regular payments to a third party (lessor).

The Leasing Process Determine Your Needs. Review your existing lease. ... Provide Options. Broker prepares a list of available properties and ?out of the box? opportunities that meet your requirements. ... Tour the Properties. ... Negotiations. ... Final Property Lease. ... Follow Up.