A contract by which the right to possession of real property is transferred for life, for a term of years, or at will for consideration.
A certificate used to authenticate a foreign acknowledgment.
A writing that passes title of personal property from vendor to vendee.
A decree of a court fixing a debt.
Correct Answer
A. A contract by which the right to possession of real property is transferred for life, for a term of years, or at will for consideration.
AI Explanation
Lease is a possession-transfer concept, not a title-transfer concept. In "Definitions and General Terms," a lease is a contract whereby, for a consideration usually termed rent, one entitled to possession of real property transfers that right to another for life, for a term of years, or at will. Not to be confused with a conveyance or deed, a lease does not necessarily transfer ownership.
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