Question

Question 13
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AN ESSENTIAL ELEMENT IN A LEASE
AGREEMENT IS THATTHE Select one:
a. LESSEE TRANSFERS LESS THAN THE
TOTAL INTEREST IN THE PROPERTY.
b. LESSOR TRANSFERS LESS THAN THE
TOTAL INTEREST IN THE PROPERTY.
c. LEASE MUST CONTAIN A BARGAIN
PURCHASE OPTION.
d. RENTAL (LEASE) PAYMENTS MUST BE
THE SAME FOR THE DURATION OF THE
LEASE​

Answer 1

"Option B: Lessor transfers less than the total interest in the property".

Explanation :

While leasing the house, the lessor has the legal effect of transferring a total interest in land from the landlord to the lessor.

It means that for a certain period at a determined rent, the tenant has exclusive ownership of the land/house/property.

Typically means, the duties of the landlord and tenant are found within the terms of that particular tenancy agreement.