A lessee is an individual or entity that enters into a lease agreement with the owner of a property, known as the lessor. The lessee is granted the right to use and occupy the property for a specified period, subject to the terms and conditions outlined in the lease agreement. In exchange for this right, the lessee typically pays rent to the lessor. Lessees may include individuals renting residential properties, businesses leasing commercial spaces, or entities leasing equipment or vehicles. As a party to the lease agreement, the lessee has certain rights and responsibilities, including the obligation to adhere to the terms of the lease, maintain the property in good condition, and pay rent in a timely manner.
A person who holds the lease of a property; a tenant.
n. the person renting property under a written lease from the owner (lessor). He/she/it is the tenant and the lessor is the landlord.
- 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.
- 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. for a period of time in return for payment to the owner.
The person (natural or legal) to whom a Lease is granted. The term ‘tenant’ can also be used, of course, but where the period of occupancy is short, ‘tenant’ often also refers to a Licensee. If the occupancy is under a lease, the ‘lessee’ is a more precise term.
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This glossary post was last updated: 29th March, 2024.
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