Broadcast images showed Mr. Bush and Mr. Obama strolling along the colonnade toward the outer entrance to the Oval Office. Mr. Obama walked just at Mr. Bush’s shoulder and appeared to be speaking animatedly, gesturing with both hands. Each of the men waved several times to reporters and others off camera.

Mr. Bush and the first lady, Laura Bush, are expected to take the Obamas on a tour of the White House, and then Mr. Bush and Mr. Obama are expected to split off for about 90 minutes of formal talks concerning the transfer of power from Mr. Bush’s conservative Republican administration to a presumably much more liberal Democratic leadership.

Mr. Obama will be seeing the Oval Office in person for the first time, just 10 weeks before he will make history by returning as its first black occupant, a spokesman for Mr. Obama said earlier in the day.

As the capital swirled with talk of an expanded bailout package for the troubled American International Group, of unemployment figures that continue to swell, of deep trouble in the auto industry and the urgent financial summit to be convened later this week by Mr. Bush, some of the more pressing issues awaiting discussion by the two leaders on Monday afternoon seemed clear. Similarly, two wars — on which the president and president-elect differ considerably — will demand careful and delicate coordination.

Mr. Obama, who does not plan to attend the financial summit, has said he expected a “substantive conversation” with Mr. Bush on Monday. Such first meetings are governed by no rules but are deeply immersed in tradition. Neither man was expected to issue any extended statement after the meeting, which is taking place unusually early in the transition period.

Josh Bolten, the president’s chief of staff, said on Monday morning that the president and president-elect will be alone in the Oval Office when they meet, without aides present.

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