LESSOR Meaning and
Definition
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A lessor refers to an individual, entity, or organization that owns a property or asset and allows someone else, known as the lessee, to use or occupy it in exchange for payment. In a rental or leasing context, a lessor is the party granting the right to use the property, while the lessee is the one renting or leasing it.
The lessor is responsible for maintaining the property or asset in a habitable and functional condition, ensuring that it meets the necessary safety standards. They are expected to make sure that any repairs or maintenance required are promptly taken care of, or that the lessee is informed of the issues and asked to address them. Additionally, the lessor has a legal obligation to disclose any known defects or issues with the property to the lessee before entering into a lease agreement.
The relationship between a lessor and a lessee is typically formalized through a lease agreement or contract, which outlines the terms and conditions of the lease arrangement. This agreement stipulates the duration of the lease, the amount of rent to be paid, any applicable security deposits, and various other rights and responsibilities of both parties.
Overall, a lessor plays a vital role in the rental or leasing industry by owning and providing properties or assets for others to use, ensuring the smooth functioning and compliance with legal obligations throughout the lease period.
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• One who grants a lease.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for LESSOR
Etymology of LESSOR
The word "lessor" is derived from the Old French term "lessur" which originally meant "one who lets, permits, or allows". This Old French word is derived from the Latin "licere" meaning "to permit or allow". Over time, "lessur" in Old French transformed into "lessor" in English, referring to someone who grants a lease or allows the use of property or goods to another person in exchange for rent or payment.
Similar spelling words for LESSOR
- loesser,
- lezar,
- Leaser,
- loss,
- lesson,
- lasserre,
- laser-like,
- leeser,
- lesser-used,
- LEIS,
- laser-based,
- leger,
- lasser,
- lesser-known,
- louser,
- laser,
- Lazear,
- lisaraye,
- looser,
- LZR,
- LZARI,
- Lazer,
- lazor,
- LESAR,
- Lazar-like,
- losar,
- Lazzaro,
- LLSIR,
- lusser,
- lesser-quality,
- laser-cut,
- lesser,
- leser,
- laser-beam,
- LOSIR,
- lizer,
- laser-guided,
- LSR-AES,
- lesueur,
- lacera,
- lazar,
- LAHSR,
- lesher,
- lesieur,
- lazaru,
- LASOR,
- loeser,
- saint-lazare,
- lowser,
- LSA/LSAR,
- LOSRA,
- luzar,
- laisser,
- lacery,
- laser-disc,
- Co-lessor,
- llazar,
- I2-LSR,
- lazarou,
- loser,
- leisure,
- LUZR,
- loisir,
- LSYR,
- estella-lizarra,
- LICERE,
- LSZR,
- laser-gun,
- lesuer,
- lswr,
- lieser,
- LASERR,
- Z-LASER,
- Leiser,
- lucera,
- leuser,
- LHSRA,
- laser-tattooed,
- LEASOR,
- lissauer,
- lucero,
- FSC-LSR,
- lassar,
- LSR,
- Leyser,
- lasso,
- lezzer,
- LSC-LSR,
- lazara,
- lass,
- Lazare,
- laser-assisted,
- lizeroux,
- luzira,
- leisure-time,
- laser-induced,
- -less,
- less,
- Lazaro,
- leasure,
- leisure-class,
- lacer,
- lassoer,
- Lusory,
- lazar-house,
- LSAOR,
- Lesure.
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