Certified Residential Appraiser Practice Exam

Which term is used to refer to the landlord in a lease agreement?

1. Easement

2. Lessee

3. Lessor

4. Tenant

The correct answer is: Lessor

In a lease agreement, the landlord is referred to as the lessor. This term is used specifically to designate the party who grants the lease, essentially allowing another party (the lessee or tenant) the right to use or occupy property for a specified duration and under certain conditions while retaining ownership of the property. Understanding the roles in a lease agreement is crucial since it establishes the responsibilities and rights of each party involved. The lessor is typically responsible for maintaining the property and adhering to any legal obligations related to property management, while the lessee, commonly known as the tenant, is granted occupancy and enjoyment of the space in exchange for rent. The other terms in the options serve different purposes in real estate and law. An easement refers to a legal right to use another's land for a specific purpose, which does not involve the landlord-tenant relationship directly. Lessee denotes the tenant, or the individual renting the property, who is not the landlord. Thus, recognizing the role of the lessor as the landlord is fundamental in understanding lease agreements and property transactions.