National Real Estate Practice Exam

In a lease agreement, who is the tenant?

1. Lessor

2. Lessee

3. Vendor

4. Grantor

The correct answer is: Lessee

In the context of a lease agreement, the tenant is specifically referred to as the lessee. The lessee is the individual or entity that leases or rents property from another party, known as the lessor. In this relationship, the lessee has the right to use and occupy the property for the duration of the lease, typically in exchange for regular rental payments to the lessor. Understanding this terminology is crucial because it helps clarify the roles and responsibilities of each party involved in the lease agreement. The lessor is the property owner who provides the property for rent, while the vendor and grantor refer to different contexts, primarily associated with sales and the transfer of rights, not leasing. Recognizing these distinctions within real estate terminology is essential for navigating leases and rental agreements effectively.