Word Origin late Middle English: from Anglo-Norman French, from Old French lesser ‘let, leave’. What are the rights and duties of a lessor? What is the difference between lessee and tenant? How to use lessor in a sentence. 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.
An asset may be repossessed by the lessor in the event of a default on the lease payments. Not to be confused with: lesser – smaller: She received a lesser amount. Definition of lessor: An owner of property who rents it to another party , called a tenant. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee.
A lessor is the party who rents property to another party. If we think of a lessee as a tenant or renter, the lessor is the landlord or owner. During the term of the lease agreement, the lessor will own the asset and is also entitled to any financial benefit that may be realized if the asset is sold.
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