Is the lessor the landlord or the tenant? What is the plural of lessee? After three years, the lessees may sell their lease. We use the concept of opportunity cost to compute the penalty to be imposed by the lessor on the lessee if land degradation is observed.
It leased trucks from a lessor in Manitoba and re-leased them to tourists in Alberta. In this case, an owner of a piece of equipment sells the equipment to a lessor , who then leases it back to its former owner, who is then the lessee. For a very brief time, both the lessor and the lessee were one and the same person. In a net lease, the lessee agrees to maintain the asset, insure it, and pay any property taxes.
The definition of a lessor is someone who loans property to another person with a written agreement. An example of a lessor is the owner of an apartment building. Trick to Remember the Difference Remembering lessor vs.
Not to be confused with: lesser – smaller: She received a lesser amount. The lessor agreed to let me stay another month. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee.
English dictionary definition of lessor. The claimant was a co-operative and owned the freehold of a block of flats where the defendant was a lessee. Where there is an assignment by a lessor to a lessee the interest which the lessee takes is the interest which the lessor himself had.