What kind of agreement involves periodic payments for temporary property use?

The correct choice is a lease, which involves a contractual agreement between the lessor (property owner) and the lessee (individual or entity renting the property) for the use of property for a specific period. In this arrangement, the lessee agrees to make periodic payments, typically monthly, to the lessor in exchange for the right to temporarily occupy or utilize the property.

Leases are commonly used for a variety of properties, including residential homes, commercial spaces, and even equipment. They outline not only the payment terms but also other conditions regarding the use of the property, such as maintenance responsibilities and rules for termination of the agreement.

In contrast, a sales contract involves a permanent transfer of ownership, meaning it is not based on temporary use and does not typically include periodic payments. A rental agreement can sometimes overlap with a lease, but it's often used in less formal contexts and may not specify as long a term. A transfer deed signifies the actual ownership transfer of property and again does not relate to temporary use but rather to the outright selling and buying of an asset. Thus, the nature of leasing aligns perfectly with the concept of periodic payments for temporary property use.