As per Lawkidunya, Lease of Immovable Property in Pakistan. According to the Transfer of Property Act, 1882 a Lease of immovable property is a transfer of a right to enjoy such property, made for a certain time, express or implied, or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops, service or any other thing of value, to be rendered .

What is the Definition of Lease of Property in Pakistan

A lease is a contract between two parties where one party, the lessor, allows the other party, the lessee, use of their property for a period of time in exchange for consideration, usually a monthly sum of money. The original owner ultimately retains possession of the property. See landlord-tenant law.

What is the Difference Between Rent and Lease in Pakistan

The only difference between lease and rent is related to time. For rent, the landlord takes rental every 30 days. While, for lease, we use a contract that pays an amount in a lump sum for using the property.