What does a lease agreement allow in terms of property use?

A lease agreement is a legal contract between the lessor (property owner) and lessee (tenant) that outlines the terms under which the lessee can occupy and use a property. By entering into a lease agreement, the lessee is granted possession of the property for a specified duration, which can range from a few months to several years. This arrangement provides the lessee the right to use the property for its intended purposes, such as residential or commercial use, while clearly defining the responsibilities of both parties during the lease term.

The agreement does not grant permanent ownership of the property, which means the lessee does not gain equity or title to the property. Instead, possession is temporary and contingent upon adhering to the terms of the lease. Similarly, it does not transfer all rights of ownership to the lessee; the property owner retains ownership rights. Furthermore, while a lease may require certain conditions regarding the property’s maintenance or use, it does not inherently mandate renovations before the property can be occupied. Thus, the nature of a lease specifically supports the idea of temporary possession rather than ownership or permanent rights.