LESSEE Meaning and
Definition
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A lessee is an individual or entity that is granted the right to use or occupy a property or asset through a lease agreement. In a lease arrangement, the lessee is the tenant or user of the property, while the lessor is the owner or landlord who grants the lease. The lessee obtains temporary possession and the right to enjoy the benefits of the property, while the lessor retains ownership.
The term "lessee" is commonly used in various real estate scenarios, such as renting residential or commercial properties, leasing equipment, or even leasing vehicles. In each case, the lessee is the party who pays rent or lease fees and has the responsibility to comply with the terms and conditions outlined in the lease agreement.
As a lessee, one's rights and obligations may include maintaining the property's condition, paying rent on time, adhering to any restrictions or rules set by the lessor, and ensuring proper care and usage of the property. The length of the lease may vary, with some being short-term while others can extend for several years.
It is important for a lessee to carefully review and understand the lease agreement before signing, as this legally binding document outlines the rights and responsibilities of both parties involved. Failure to comply with the terms could result in penalties, eviction, or legal action.
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The person who receives or holds a lease.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for LESSEE *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for LESSEE
Etymology of LESSEE
The word "lessee" originated from Old French "lesseor" which means "one who leases or grants" (especially land or property). It further comes from the Medieval Latin "lēssor" and Latin "lēssus" meaning "bound, limited, rented".
Similar spelling words for LESSEE
- Les,
- lewis,
- lesser,
- Lexie,
- Leos,
- legs,
- Legge,
- less,
- Lege,
- leake,
- Leisha,
- Leisa,
- leash,
- -less,
- leaks,
- lesh,
- lesch,
- lease,
- Lesa,
- lessen,
- leisy,
- lees,
- Leeks,
- Leesa,
- Lesha,
- LEIS,
- lesko,
- leech,
- leek,
- LEAS,
- Lessie,
- Leese,
- Lesia,
- leask.
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