In basic property law, which option best describes an important legal right that a lessee enjoys under a valid lease agreement?

Introduction / Context:
Lease agreements are a core concept in property and contract law. A lessee is the person who takes property on lease from a lessor, typically in return for rent. Understanding what rights a lessee gains, and what they do not gain, is essential for exams related to law, business, or real estate. This question focuses on the central legal right that defines a lease: the right to exclusive possession of the property for a set period, subject to the terms of the lease.

Given Data / Assumptions:

• A lease agreement exists between a lessor and a lessee.
• The lessee gains some rights in respect of the property, but not full ownership.
• The options mention rights related to possession, sale, inheritance, and borrowing.
• We assume a standard legal framework where lease and ownership are clearly distinguished.

Concept / Approach:
In law, ownership of property includes a bundle of rights, such as the right to possess, enjoy, dispose, or mortgage. A lease transfers only some of these rights for a limited time. The key hallmark of a lease is that it grants exclusive possession to the lessee for a term, while ownership remains with the lessor. This means the lessee can use the premises and exclude others, including the lessor, except as allowed by the lease. The lessee does not become the full owner and therefore cannot freely sell the property or mortgage it as absolute owner.

Step-by-Step Solution:
Step 1: Identify the defining feature of a lease. It is a transfer of a right to enjoy property for a certain time in exchange for consideration, usually rent. Step 2: Recognise that this enjoyment primarily comes from exclusive possession. Step 3: Examine option C, which states that the lessee has the right to exclusive possession of the leased premises for the term of the lease. This matches the legal definition. Step 4: Option A refers to willing the lease, which may or may not be allowed, but is not the core defining right. Step 5: Option B describes the right to sell the entire property, which is an ownership right that belongs to the lessor, not the lessee. Step 6: Option D concerns borrowing money against the property as absolute owner, which again belongs to the owner, not a temporary lessee. Step 7: Therefore, the best description of the lessee right is exclusive possession for the lease term.

Verification / Alternative check:
To verify, recall that even in everyday language, when someone says they have taken a house on rent, they usually mean they can live there and keep others out, including the landlord, except under agreed conditions. This is exactly exclusive possession. Legal textbooks on property law repeat that exclusive possession is what distinguishes a lease from a mere licence or permission to use property. This confirms that option C is correct.

Why Other Options Are Wrong:
The right to will the lease is secondary and may be restricted by contract or statute; it does not define the lease itself. The right to sell the entire property is an incident of ownership and cannot usually be exercised by a lessee. The right to mortgage or borrow against the property as full security belongs to the owner or a person with fuller rights, not to a lessee with temporary possession.

Common Pitfalls:
A common mistake is to think that paying rent somehow makes the lessee almost an owner. In law, however, ownership stays with the lessor; the lessee gains mainly the right to possess and use. Another pitfall is confusing licences and leases. A licence is often a permission to use property without exclusive possession, such as a cinema ticket. A lease, in contrast, confers exclusive possession. Keeping this distinction in mind will help in many related exam questions.

Final Answer:
A key legal right of a lessee is the right to exclusive possession of the leased premises for the term of the lease.