Lessor vs. Lessee: What Is the Difference? - LegalClarity The lessee’s primary role involves using or occupying the asset according to the agreed-upon terms For example, a tenant living in a rental apartment is a lessee, as is a person who leases a car from a dealership
Lessor vs Lessee - What You Need to Know About How Leases Work A lease is a contractual arrangement where one party, called the lessor, provides an asset for use by the other party, referred to as the lessee, based on periodic payments for an agreed period The lessee pays the lessor for the usage of the asset or property
Lessor vs. Lessee: How Are They Different? - LegalZoom The lessee is responsible for regularly making payments based on the terms of the contract In this way, the lessor generates income from leasing the asset, and the lessee uses the asset without having to pay the full purchase price
Lessee vs. Lessor: Whats The Difference in Lease Agreement (2025) What is a Lessee? A lessee is an individual or company that acquires the occupation and use of property or an asset on lease In real estate, the tenant is a lessee In any lessor and lessee contract, the lessee is the entity that enters the lease and promises to abide by the rules
Lessee: The Person That Rents a Property - Investopedia A lessee is a person who rents land or property from a lessor The lessee is also known as the “tenant” and must uphold specific obligations as defined in the lease agreement and by law