In real estate, what is a "lease"?

A lease is fundamentally a contract that grants a tenant the right to occupy and use a landlord's property in exchange for rent. This legally binding agreement outlines the terms and conditions of the rental arrangement, including the duration of the lease, payment details, responsibilities for maintenance, and any rules governing the use of the property. The lease creates a legal relationship between the landlord and the tenant, protecting the rights of both parties.

The other options do not accurately capture the primary function or definition of a lease. A legal agreement for property maintenance refers more to service contracts rather than occupancy. Document transfers of ownership relate to deeds, not leases, which are focused on usage rather than ownership transfer. Lastly, a plan for marketing rental properties pertains to the strategy for attracting tenants rather than the specifics of the rental agreement itself.