What does a lease allow one party to do in terms of property ownership?

A lease specifically allows one party to use and occupy property that is owned by another for a designated period, in exchange for rent. This arrangement creates a landlord-tenant relationship where the tenant gains the right to utilize the property while the owner retains actual ownership.

While the notion of eventual ownership after a period may sound appealing, a lease does not provide for the full transfer of ownership to the tenant; that would require a different legal structure, such as a lease-to-own agreement or a purchase agreement.

Although tenants do often have the ability to make certain renovations or improvements to the property, this is not an inherent part of what a lease entails and is typically subject to the landlord's approval and the stipulations within the lease agreement. Furthermore, a lease does not grant the tenant the authority to sell the property to a third party, as the tenant remains a temporary user and does not hold ownership rights that would allow them to sell the property.