What is a lessee meaning?

Legal Definition of lessee : a person who has possession of real or personal property under a lease specifically : a tenant of real property under a lease.

What is lessor and lessee?

A lessor is essentially someone who grants a lease to someone else. As such, a lessor is the owner of an asset that is leased under an agreement to a lessee. The lessee makes a one-time payment or a series of periodic payments to the lessor in return for the use of the asset.

What is the lessor meaning?

Legal Definition of lessor : a person who conveys the possession of real or personal property under a lease.

What is the difference between lessor and tenant?

The tenant is the lessee. And the landlord is the lessor. The lessee pays rent to the landlord whereas the lessor receives payment from the tenant.

Is the lessee the tenant?

A lessee is a person who rents land or property from a lessor. The lessee is also known as the “tenant” and must uphold specific obligations as defined in the lease agreement and by law.

What is another word for lessee?

In this page you can discover 19 synonyms, antonyms, idiomatic expressions, and related words for lessee, like: renter, boarder, rentee, tenant, lessor, mortgagor, leaseholder, transferor, mortgagee, assignor and freeholder.

What is a renter called?

A landlord is the owner of a house, apartment, condominium, land, or real estate which is rented or leased to an individual or business, who is called a tenant (also a lessee or renter).

Is lessor the same as landlord?

Lessor/lessee is the more general because it applies to a lease of any kind, whereas landlord/tenant applies — obviously — only to real property. Nobody calls the owner of a leased truck a ‘landlord’.

What is a lessee in real estate?

A person who in exchange for a payment takes temporary possession of property through a lease. If the property is real estate, the lessee is known as a tenant. landlord & tenant. property & real estate law.

Is the lessee the renter?

What Is a Lessee? A lessee is a person who rents land or property from a lessor. The lessee is also known as the “tenant” and must uphold specific obligations as defined in the lease agreement and by law. The lease is a legally binding document, and if the lessee violates its terms they could be evicted.

Is a tenant also a lessee?

The landlord may rent out a property to a tenant. A place where a person can live in, for example, a house, room, flat, garage or similar structure built on land used for housing purposes. A person renting a property from a landlord, and is also referred to as a lessee.

What are the rights of lessee?

Rights of the Lessee: The Lessee has the right to avoid the lease in case of any destruction of property by fire or flood, or violence of an army or of a mob, or other irresistible force. 2. The Lessee has right to repair the property when Lessor fails to do so and to deduct the cost of repairs from the rent. 3.