Definition - What does Tenant mean?
Tenant refers to a person or a party that acquires a piece of land or property owned by another party. This is usually carried out after a formal agreement signed between the person (the tenant) and the owner of the property (landlord). The agreement often clearly indicates the amount to be paid as rental payments and can also include other provisions such as acceptable use of the property or dwelling.
Justipedia explains Tenant
A typical example of a tenant is when a person receives the right to temporarily use the property owned by the landlord in exchange of a fixed amount of money commonly termed as rent. The amount of rent, the duration of tenancy, and other important matters are usually decided by the parties through a formal contract often referred to as a rental agreement or a lease.