Ace the California Real Estate Exam 2026 – Your Key to Property Success!

In a lease agreement, the correct answer is the lessor. The lessor is the party that owns the property and grants the right to use and occupy that property to another party, referred to as the lessee or tenant. The lessee does not own the property; instead, they hold a temporary right to occupy and use the property as defined in the lease agreement.

The beneficiary is typically involved in a trust arrangement rather than a lease. The lessee/tenant does not own the property, as their rights stem from the lease rather than ownership. The term "owner" is a broader description and can refer to various situations outside of the specific context of leasing, where the lessor specifically is recognized as the owner who leases the property.