Does renting and lease mean the same thing in a real estate contract?

UPDATED: Oct 1, 2022

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Does renting and lease mean the same thing in a real estate contract?

We signed a owner finance agreement and it says we will be in default if we

lease the property. I am wondering if legally we can rent it with no contract.

We wanted to know if lease and rent although similar, might have 2 different

legal meanings.

Asked on June 24, 2018 under Real Estate Law, Alaska


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

No, renting and leasing have the same meaning in this context and can be used interchangeably. Also whether you have a written lease or just an oral (unwritten) one makes no difference: there is always some lease or contract (the agreement under which you rent or lease), and oral agreements are enforced just like--and therefore treated like--written leases or contracts.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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