In view of Section 105 of the Transfer of Property Act, 1882 a lease of immovable property is a transfer of:
Verified Answer
A. A right to enjoy such property in consideration of a price paid or promised or of money, a share of crops, service or any other thing of value.
B. An interest in specific immovable property for securing the payment of money advanced.
C. Ownership in consideration of price paid or promised.
D. Certain immovable property, made voluntarily and without consideration.
Explanation:
Section 105 of the Transfer of Property Act, 1882, defines a lease of immovable property as a transfer of a right to enjoy such property. This transfer is made for a specified period or in perpetuity, in consideration of a premium (price paid or promised), or rent (money, share of crops, service, or any other thing of value, to be rendered periodically). Option (1) accurately captures this definition.