California Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the California Real Estate Exam. Study with flashcards and questions featuring hints and explanations. Get exam-ready!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Who owns the property in a lease agreement?

Beneficiary
Lessee/Tenant
Lessor
Owner

The correct answer is: Beneficiary

In a lease agreement, the correct answer is the lessor. The lessor is the party that owns the property and grants the right to use and occupy that property to another party, referred to as the lessee or tenant. The lessee does not own the property; instead, they hold a temporary right to occupy and use the property as defined in the lease agreement. The beneficiary is typically involved in a trust arrangement rather than a lease. The lessee/tenant does not own the property, as their rights stem from the lease rather than ownership. The term "owner" is a broader description and can refer to various situations outside of the specific context of leasing, where the lessor specifically is recognized as the owner who leases the property.