Lessee definition

How to use lessee in a sentence? English dictionary definition of lessee. The person or entity the lessee rents from is the lessor. Most lessees must meet certain guidelines and restrictions when using. The answer is, so that the registration authority can give appropriate notice to owners, lessees, tenants or occupiers, or to others who might wish to object to an application to register.

One who rents real property or Personal Property from another. A lessee of land is a tenant. Cross-references Landlord and Tenant. User or renter of the leased asset or property. When real estate is lease the lessee is called a tenant.

See the dictionary meaning, pronunciation, and sentence examples. Ad Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now! In a lease agreement, the lessee is the person or business entity that leases or rents property from another person or business entity.

A lease is a contract between a lessor. In exchange, the lessee pays rent. In other words, a lessee leases or rents the leased property from the lessor. Can be used as either street slang, or internet slang.

In the context of insurance, many lessees purchase. Most people chose this as the best definition of leasee: (nonstandard) A person wh. The duration for which the asset is leased can depend upon the purpose for which the asset is used. The entity to whom a lease is given, or who takes an estate by lease.

Someone who is allowed to use a house, building, land etc. Information and translations of LESSEE in the most comprehensive dictionary definitions resource on the web. When used in connection with the motor carrier industry, and in particular in connection with owner-operator situations, the term refers to the entity that holds operating authority to operate as a motor carrier for hire. I would like to receive Nasdaq communications related to Products, Industry News and Events.

You can always change your preferences or unsubscribe and your contact information is covered by. Another word for lessee. Find more ways to say lessee , along with related words, antonyms and example phrases at Thesaurus. As nouns the difference between lessee and tenant is that lessee is an individual or a corporation who has the right of use of something of value, gained through a lease agreement with the real owner of the property while tenant is one who pays a fee (rent) in return for the use of lan buildings, or other property owned by others.

Lessee is a synonym of tenant. The lessee is required to restore the property to the lessor at the end of the term. Definition of LESSEE in the Definitions. A person or entity who receives the use and possession of leased property (e.g., real estate or equipment) from a lessor in exchange for a payment of funds. The lessee has a right to enjoy the premises leased for the term mentioned in the lease and to use them for the purpose agreed upon.

Generally speaking, a lessee is the person who is renting and a lessor is whoever is the owner or manager of the property. This means that the lessor is someone who grants a lease. Some rights, however, like heat and water, are universal.

We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. View the pronunciation for lessee. The transaction is governed by the terms and conditions documented in a lease agreement.

In return for the privilege of using the equipment or property for the. The lessee has the right to enjoy the property and use it as per the terms and conditions provided in the agreement. If not expressly prohibited in the agreement, the lessee can underlet the premises. This is only a brief explanation about lessee and lessor, and their respective duties and rights.

What does leasee mean?