meaning of lessees
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lessee lessee (plural lessees) 1  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. 2  The entity to whom a lease is given, or who takes an estate by lease.
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- A lessor is a person or organization that owns an asset, such as real estate, and a lessee is a person or organization that makes installment payments to use the asset. In real estate rentals, the lessor is the landlord and the lessee is the renter. Continue Reading.
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- A lessor is a person or organization that owns an asset, such as real estate, and a lessee is a person or organization that makes installment payments to use the asset. In real estate rentals, the lessor is the landlord and the lessee is the renter. Keep Learning.
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- The lessee, or farmer, tills the soil at his own risk; usually he provides live stock, implements and capital, and has no right to compensation for ordinary improvements, nor for extraordinary improvements effected without the landlords consent.
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- More schools like this... 1  The University of North Carolina Wilmington Wilmington, NC. 2  University of Maine Orono, ME. 3  University of Southern Indiana (College of Nursin... Evansville, IN.  Miami Dade College Miami, FL.
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Lease A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset, the lessee obtains the right to use the asset in return for rental payments. The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let or rented out by the owner.
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- A legal document outlining the terms under which one party agrees to rent property from another party. A lease guarantees the lessee (the renter) use of an asset and guarantees the lessor (the property owner) regular payments from the lessee for a specified number of months or years.Both the lessee and the lessor must uphold the terms of the contract for the lease to remain valid. Next Up. lease is an agreement between two parties where the lessor owns property that it allows the lessee to use pursuant to terms of the agreement.
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- In case of capital leases, the lessee is also the 'debtor' to the lessor. When real estate is leased, the lessee is called a tenant. Dictionary Term of Day Articles Subjects Sign Up
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DEFINITION of 'Grantee' DEFINITION of 'Grantee'. The recipient of some type of property. In its most literal sense, a grantee is the recipient of a grant, a sum of money intended to fund a specific undertaking (like a college education or a research project). In real estate, the grantee is the recipient of a property - the person who will be taking title, as named in the the legal document used to transfer the real estate.
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Who is the lessor and lessee? A lessor is someone who grants a lease of something to someone. For example, in a commercial building lease scenario, the lessor is the landlord (building owner), and the tena…nt will be known as the lessee.
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What is a Grantee? Definition and Explaination Grantee and grantor are terms used in legal instruments such as deeds conveying title. In real estate, the grantee is the buyer. Grantee and grantor are terms used in legal instruments such as deeds conveying title.
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assignee Assignee definition, a person to whom some right or interest is transferred, either for his or her own enjoyment or in trust. See more.
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Bailee Law and Legal Definition Bailee Law & Legal Definition. A bailee is a person who receives possession of a property or goods through a contract of bailment. Unlike a contract of sale, the bailee has to return the goods or property to the bailor, under a contract of bailment.enerally, a bailment is for the exclusive benefit of the bailee. A bailee must have actual physical control of the goods or property and an intention to possess it, in order to create a bailment. However, a bailee has no power to make contracts on behalf of the bailor.
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less- definition and synonyms as a preposition (before a noun): a profit of £3,000, less tax. 1  1. used for referring to an amount that is smaller than another amount, smaller than before, or smaller than you expected You should eat less and exercise more. The industry operates with less government control these days.
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Lessor versus Lessee Lessor Defined. In a lease agreement, the lessor is defined as the party that receives payments in exchange for the usage of its asset or property. The lessee is the party that pays the lessor for the use of the asset or property.
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lessees lessee [countable, law] | lessees [plural] someone who pays rent to use land or property and has signed a lease (=a legal agreement) with the owner. The owner is called the lessor.
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Lease Calculator A lease is a contract made for the use of an asset. It is made between a lessor (the owner of the asset) and a lessee (the person who wants to use the asset). You will hear the most about leasing houses and cars, but you can lease anything.
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tenant lessee - a tenant who holds a lease. leaseholder. holder - a person who holds something; they held two hostages; he holds the trophy; she holds a United States passport.
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- Surrender Of Lease. THIS DEED OF SURRENDER is executed on the ………day………..of…… between A s/o………..r/o…………….(hereinafter called ‘lessee’) and B s/o……….. r/o ……… ……. (hereinafter called ‘lessor’) WHEREAS vide lease deed dated……….the lessor had granted …….to the lessee a lease for ………years in respect with plot no……………..at …………………..
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lessee 174. By an assignment of the lease is meant the transfer of all the tenant's interest in the estate to another person; on the contrary, an underletting is but a partial transfer of the property leased, the lessee retaining a reversion to himself. 3.-2. The duties of the lessee are numerous. First, he is bound to fulfill all express covenants he has entered into in relation to the premises leased; and, secondly, he is required to fulfill all implied covenants, which the relation of lessee imposes upon him towards the lessor.
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lessee A lessee of land is a tenant. Landlord and 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. (See: lease, lessor, tenant, landlord, landlord and tenant)
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RECIPIENT Define addressee: one to whom something is addressed — addressee in a sentence
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lessor Definition of lessor: An owner of property who rents it to another party, called a tenant. also called landlord. Definition of lessor: An owner of property who rents it to another party, called a tenant. also called landlord. Use lessor in a sentence. “ I was glad to be a lessor and not a tenant because I could never make any of my payments on time as a tenant. Was this Helpful? YES NO 2 people found this helpful.
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Option contract Introduction [edit]. An option is the right to convey a piece of property. The person granting the option is called the optionor (or more usually, the grantor) and the person who has the benefit of the option is called the optionee (or more usually, the beneficiary). Options characteristically exist in one of two forms:
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lessee holder - a person who holds something; they held two hostages; he holds the trophy; she holds a United States passport. renter, tenant - someone who pays rent to use land or a building or a car that is owned by someone else; the landlord can evict a tenant who doesn't pay the rent.
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Lessor versus Lessee In a lease agreement, the lessee is defined as the party that pays for the use of the asset or property. The lessor is the party that receives payments from the lessee in exchange for the usage of its asset or property.