Lease

A conveyance of lands or tenements to a person for life, fora term of yeurs, or at will, in consideration of a return of rent or some other recompense. The person who ! 80 conveys such lands or tenements is termed b the “lessor,” and the person to whom they are conveyed, the “lessee;” and when the lessor 80 conveys lands or tenements to a lessee, ho is said to lease, demise, er let them.

4 Cruise, Dig. 58.

— A conveyance of any lands or tenements, (usually in consideration of rent or other annual recampense,) made for life, for years, or at will, but always for a less time than the Jessor has in the premises;

— for, if it be for the whole interest, it is more properly an as- A contract in writing, under seal, whereby a person having a legal estate in hereditaments, corporeal or incorporeal, conveys a portion of his interest to another, in consideration of a certain annual rent or render, or other recompense.

Archb. Landl. & Ten. 2. “Lease” or “hire” is a synallagmatic contract, to which consent alone is sufficient, and by which one party gives to the other the enjoyment of a thing, or his labor, at a fixed price. Civil Code La. art. 2669, When the contract is bipartite, the one part is called the “lease,” the other the “counterpart.” In the United States, it is usual that both papers should be executed by both parties; but in England the lease is executed by the lessor alone, and given to the lessee, while the counterpart is executed by the lessee alone, and given to the lessor. A concurrent lease, or lease of a reversion, is one granted for a term which is to commence before the determination of a previous lease of the same land to another person. An undericase or sublease is one executed by the lessee of an estate to a third person, conveying the same estate fora shorter term than that for which the lessee holds it.