Property Ownership
A lease is both a contract and a conveyance because it:
AMust be notarized and recorded like a deed
BCreates both contractual rights between the parties and transfers a possessory interest in the property to the tenant✓ Correct
CRequires both parties to sign the MLS agreement
DMust be in writing and filed with AREC
Explanation
A lease is a contract (creating rights and duties between parties) and a conveyance (transferring a possessory leasehold interest in real property from the landlord to the tenant for the lease term).
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