agreement for lease

An agreement by a landowner to enter into a lease of the premises as distinguished from a lease itself, the agreement being executory, vesting no interest in the land in the other party, and creating no liability for rent as such. In determining whether an instrument is a lease or a mere agreement for one, the intention of the parties, as manifested by the writing controls. As a rule, where the agreement contemplates the execution of a formal lease at a future time, especially where its future execution is conditional, the agreement is one for a lease and not a lease itself; but where the instrument contains apt words of present demise, and the estate granted and terms of the demise are definite and explicit, it is often held to be a present lease and not a mere agreement for one, although it also contains a provision or covenant for the execution of a more formal lease at a future time. 32 Am J1st L & T § 28.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

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