Under NS law, which statement about a lease is correct?

Under NS law, which statement about a lease is correct?

• A. A fixed-term rental agreement
• B. An ownership interest in the property
• C. A month-to-month tenancy with no terms
• D. A license to occupy temporarily

Answer: (A)

A lease is a fixed-term rental agreement that gives the tenant exclusive possession of the dwelling for a defined start and end date. This means you’re entering into a contract where you pay rent and follow the terms for a set period, and you don’t gain ownership of the property. The fixed term is key—it distinguishes a lease from other arrangements. This is different from a month-to-month tenancy, which occurs when there’s no fixed end date and the agreement continues on a periodic basis until notice is given. It’s also different from a license to occupy, which is merely permission to use the space and does not normally confer the same level of exclusive possession or long-term rental obligations. So, the statement that a lease is a fixed-term rental agreement best reflects how NS law treats leases.

A lease is a fixed-term rental agreement that gives the tenant exclusive possession of the dwelling for a defined start and end date. This means you’re entering into a contract where you pay rent and follow the terms for a set period, and you don’t gain ownership of the property. The fixed term is key—it distinguishes a lease from other arrangements.

This is different from a month-to-month tenancy, which occurs when there’s no fixed end date and the agreement continues on a periodic basis until notice is given. It’s also different from a license to occupy, which is merely permission to use the space and does not normally confer the same level of exclusive possession or long-term rental obligations.

So, the statement that a lease is a fixed-term rental agreement best reflects how NS law treats leases.