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Who is considered the lessor?

A lessor is the owner of an asset that is leased, or rented, to another party, known as the lessee. Lessors and lessees enter into a binding contract, known as a lease agreement, that spells out the terms of their arrangement.

Which party is the lessor?

The lessor is the owner of property who contracts with another, the lessee , to allow them to take temporary possession of their property through a lease . If the property is real estate , the lessor is referred to as a landlord .

Who is lessor and lessee?

Definitions of lessor. someone who grants a lease. synonyms: lease giver. owner, proprietor.

Is the owner the lessor or the lessee?

A lessor is the owner of an asset or property, who gives permission via a lease for the lessee to temporarily use their asset. A lessee is the party who borrows or takes temporary possession of an asset from the lessor.

What is the lessor of a landlord?

The lessor is typically the owner of the property, while the lessee is the tenant who occupies the property and pays rent. The lease agreement is the contract that outlines the terms of their respective duties and responsibilities. These roles are also commonly known as landlord (lessor) and tenant (lessee).