Lessee meaning

How to use lessee in a sentence? What does the name lessee mean? Word Origin for lessee.

C15: via Anglo-French from Old French lessé, from lesser to lease 1. Equipment leasing , to put it simply, is the means by which one party, the lessor , lays out a capital sum for the acquisition of an asset, and another person, the lessee , uses that asset and in return pays a fee including rent, to the lessor. After three years, the lessees may sell their lease. User or renter of the leased asset or property. When real estate is lease the lessee is called a tenant.

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. Lessees have tenant rights, which vary by state. Some rights, however, like heat and water, are universal. Instant Downloa Mail Paper Copy or Hard Copy Delivery, Start and Order Now!

The definition of a lessee is a tenant or a person who is renting a property. A tenant leasing an apartment is an example of a lessee. English dictionary definition of lessees.

If the covenant has the meaning suggested by the lessees, the lessors are liable for breach of the implied covenant. It also pleaded that it had received Indonesian advice that a foreign company could be a lessee or assignee under a lease. 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 simpler terms, a lessee is defined as an entity that pays for the use of specific property from a lessor.

Lessors and lessees enter into a binding contract, known as the lease agreement, that spells out. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. Lessor definition is - one that transfers property (such as a house or a car) by a contract.

A lessee is basically a person (or party) who under a contractual agreement rents land or property (usually immovable property) from a lessor (owner of the property) and the arrangement between the two when entered into a lease agreement becomes a legal contract. In exchange, the lessee pays rent. Definition : A lessee is the person in a lease agreement who obtains possession and the right to use the leased property. In other words, a lessee leases or rents the leased property from the lessor. Noun (plural leasees) 1. A lessee is the party that is entitled to use the asset as per terms stated in the lease agreement for a specific period of time, by paying an agreed upon periodic payment.

The duration for which the asset is leased can depend upon the purpose for which the asset is used. Someone who is allowed to use a house, building, land etc. The entity to whom a lease is given, or who takes an estate by lease. He to whom a lease is made. The subject will be considered by taking a view, 1. He has a right to enjoy the premises leased for the term mentioned in the lease, and to use them for the purpose agreed upon.

LESSEE (noun) The noun LESSEE has sense:. A person who leases a property from its owner. Another word for lessee.

Find more ways to say lessee , along with related words, antonyms and example phrases at Thesaurus. Lessee uses vehicles for illegal activities. The lessee does not pay water charges, electricity charges, etc.