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LESSOR vs LESSEE: Difference between Lessee vs Lessor with Useful Examples

Lessor vs Lessee!!! A lease agreement is an arrangement between two parties – lessor vs lessee, by which the lessor allows the lessee the right to the use a property owned or managed by the lessor for a specified period of time, in exchange for periodic payment of rentals. So, who is the lessor? Who is the lessee?

Lessor vs Lessee

Lessee Definition and Examples

A lessee is a person who takes a place may it be a bungalow an apartment, on rent.

Lessee Examples:

  • The original lessee was not merely a guarantor or surety.
  • Lessee uses vehicles for illegal activities.
  • The lessee does not pay water charges, electricity charges, etc.

Lessor Definition and Examples

The one who gives his place on rent to a lessee is called a lessor.

Lessor Examples:

  • The lessor can evict the lessee for failure to pay rent.
  • The lessor then purchases the asset and leases it to the lessee.
  • The lessor receives capital allowances against tax.

Lessor vs Lessee Examples

  • The ulcer has perforated into the lessor omental bursa.
  • Lessor shall carefully check the vehicles and their legal documents.
  • The ownership of the leased equipment remains with the lessor.
  • In an operating lease, the lessor retains the usual risks and rights of owning the asset.
  • Being the lessor, a bank should perform a contract for sale and a contract for lease.
  • At the end of the lease term, the residual value of the asset will belong to the lessee.
  • The lessor then purchases the asset and leases it to the lessee.
  • The lessee shall pay the rent in accordance with the contract.
  • The lessee shall keep and use the lease item with due care.
  • The identity certification or juristical competency certification of the lessee.

When to Use Lessee vs Lessor | Infographic

Confused Words: Difference between Lessee vs Lessor

Lessor vs LesseePin

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1 year ago

Super defnition

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