If Raju is staying in the house of Shyam by paying the money on monthly basis, what this arrangement is called?
Question and options
If Raju is staying in the house of Shyam by paying the money on monthly basis, what this arrangement is called?
- Sale
- Lease
- Purchase
- Mortgage
Answer and explanation
Correct answer: B - Lease
Transfer of the right to enjoy immovable property for a period in consideration of periodic rent is a lease (S.105 Transfer of Property Act). A monthly tenancy is a lease from month to month.
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