To grant right of usage in real property to another for a term of years, life or at will is known as a ___________?
A lease grants right of usage, not an easement.
Under Real Property Law § 2 and § 290, a lease is treated as an instrument of conveyance because it transfers a possessory interest in real property for a defined duration. The statute’s conveyance framework expressly includes leases among the recognized instruments used to grant use and occupancy for a term of years, for life, or at will.
A mortgage is a loan secured by real property, not a right of usage.
The correct term is 'conveyance,' which refers to the transfer of property rights.
Explanation
A lease is an “instrument of conveyance” because §290 says conveyance is the transfer of real property, and examples of instruments of conveyance include a “Lease.” It grants the right to use real property to another for a term of years, life, or at will.