Simple English definitions for legal terms
Read a random definition: Agency for International Development
A lease contract is an agreement between a property owner and a tenant. The owner gives the tenant the right to use and occupy the property in exchange for rent. The lease can be for a fixed period or for as long as the tenant wants to stay. The contract can be written or oral.
Examples:
These examples illustrate how a lease contract works. John and Susan both agreed to pay rent to use the property or car for a specific period of time. The contract protects both the owner and the tenant by outlining their rights and responsibilities.