CUET Preparation Today
Anirudh transfers the possession of his pent house to Chirag, but not the ownership, to be used by Chirag for residential purpose for a fixed period of time as agreed upon by both of them. Such a transfer is called a __________. (1) Sale (2) Lease (3) Gift (4) Exchange |
1 2 3 4 |
2 |
| Lease is a transfer of right to enjoy a property for a specific period of time in consideration for a price. Lessor is the person who lets out the property for lease or transferor, and lessee is the person to whom the property is leased or the transferee in a lease. The lessee can also sub-let the lease and the relation between the lessee and the sub-lessee will be that of lessor and lessee. |
