Lease forms

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Lease is a agreement by which an owner (the Landlord) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the Tenant) the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.

Landlord (Lessor) - An owner of property who rents it to another party, called a tenant.

Tenant (Lessee) - An individual or business which has possession of and pays rent for real estate owned by another party, called the landlord.

A lease is a contract for the possession and profits of lands and tenements on one side and a recompense of rent or other income on the other or else it is a conveyance of lands and tenements to a person for temporary, in consideration of a retun of rent or other recompense. The contract in writing is also known by the name of lease, and this word sometimes signifies the term or time for which it was to run, the owner of land (Landlord), containing a quarry, leases the quarry for ten years and then conveys the land, "reserving the quarry until the end of the lease;" in this case the reservation remained in force until the ten years expired, although the lease was cancelled by mutual consent within the ten years.

Lease forms: