A lease is a legally binding contract between a landlord, who owns the freehold of a property, and a tenant. The tenant should have exclusive possession of the property which is the subject of the lease and the lease will be for a certain term.
If it is for a business purpose (but not agriculture or farming) this is known as a business lease, which usually lasts for a number of years.
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Last Updated: Thursday 25th April 2019
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