Lease law governs the leasing out of residential or commercial property and is guided prominently by state statutory tenant codes and the common law on renting. The laws lay the ground on which the legal relationship between the renter and landlord is to be framed.
The lease law attempts to clearly spell out the rights of the landlord and tenant by putting in place terms and clauses to be mutually agreed upon.
The law expressly indicates the period and nature of contract under which the property interest of the owner is limited after lapse of certain period of time and the right to possession, subleasing the property and restricting entry is bestowed upon the renter.
The duties of the owner and renter are spelt out in the law and deviation from the same is not legally desirable unless otherwise exempted. The contract agreement is penned keeping in perspective the provisions of the statutory lease law.