MANAGEMENT

Detailed explanation-1: -A lease agreement is a contract between the lessor and the lessee that grants the lessee the right to use a property that belongs to or is managed by the lessor for a predetermined period of time in exchange for recurring rental payments from the lessor. The lease does not grant the lessee any ownership rights.

Detailed explanation-2: -A lease is a legal agreement under which someone pays money to another person in exchange for the use of a building or piece of land for a specified period of time.

Detailed explanation-3: -When a leased property is sold to another owner during the lease term, the terms of the lease will prevail.

Detailed explanation-4: -A perpetual lease deed or a deed of lease for a term in perpetuity, is essentially a lease deed in which no specified time period as to when such lease deed should be terminated is mentioned. Whether an agreement/contract is in perpetuity or not, depends upon the conditions mentioned in such agreement/deed/contract.