Lessee Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Lessee, written in plain English, along with examples of how it is used.

What is Lessee?

(n) Lessee is the person who accept a property by a lease agreement with the owner of the property, to receive the benefit, rights in a property for a specific period, as per the terms and conditions contained in the lease agreement, for a consideration or rental pre-fixed.

History and Meaning of Lessee

A lessee is a person who rents property from another person or entity, usually under a lease agreement for a specified period of time. The concept of leasing has existed for centuries, and it has been used for many different purposes, such as leasing land for farming, renting equipment or real estate, or even leasing hunting rights. In modern times, leasing is a common way for businesses and individuals to get access to assets without having to purchase them outright, giving lessees the benefit of use without the burden of ownership.

Examples of Lessee

  1. Sarah is a lessee of an apartment in downtown New York. She signed a lease agreement with the owner, agreeing to pay rent for 12 months in exchange for the right to live in the apartment.
  2. John's company has leased a fleet of trucks for their delivery business. As a lessee, they are responsible for maintaining the vehicles and returning them at the end of the lease term.
  3. The owner of a commercial property leased out space to several lessees, including a grocery store, a clothing store, and a dentist's office.
  4. A company leased office space from a building owner to use as their headquarters. The lease agreement includes the amount of rent to be paid, the duration of the lease, and the conditions under which the lease can be terminated.

Legal Terms Similar to Lessee

  1. Lessor: The opposite of a lessee, a lessor is the person or entity who owns the property being leased.
  2. Landlord: A landlord is someone who owns and rents out real estate, such as an apartment, house or building.
  3. Tenant: A tenant is someone who rents property from a landlord, often used as a synonym for lessee.