A lease is an interest in real property given to a lender as security for the repayment of a loan.

Question

Quizplus · Accepted Answer

A lease is not given to a lender as security for the repayment of a loan. A lease is a contractual agreement between a landlord and a tenant for the use of real property in exchange for rent payments. A mortgage or deed of trust is usually given to a lender as security for the repayment of a loan for real property.

A Lease Is an Interest in Real Property Given to a Lender