Lessee vs Lessor
Difference, Examples & Quiz
What's the difference? Which one is correct?
Definition: A person or company that leases or rents property from a lessor.
Usage: The lessee signed a lease agreement for the apartment.
- 1. The lessee is responsible for paying rent on time.
- 2. The lessee has the right to use the property during the lease term.
- 3. The lessee must return the property in good condition at the end of the lease.
Definition: A person or company that grants a lease or rents out property to a lessee.
Usage: The lessor owns the property and leases it to tenants.
- 1. The lessor is responsible for maintaining the property in good condition.
- 2. The lessor collects rent from the lessee on a monthly basis.
- 3. The lessor can terminate the lease agreement if the lessee violates the terms.
Lessee and Lessor are terms used in the context of a lease agreement. The lessee is the person or entity who rents or leases property from the lessor, who is the owner of the property. The lessee is the tenant, while the lessor is the landlord.
Lessee vs Lessor: 5 Quizzes
1. Who is the lessee?
2. Who is the lessor?
3. Which party has the right to use the property?
4. Who is responsible for property maintenance?
5. Who pays the rent?
FAQs
What is a Lessee?
A Lessee is a person or entity who rents or leases property from a Lessor.
What is a Lessor?
A Lessor is a person or entity who owns property and rents or leases it to a Lessee.
What are the responsibilities of a Lessee?
The responsibilities of a Lessee include paying rent, maintaining the property, and adhering to the terms of the lease agreement.
What are the rights of a Lessee?
The rights of a Lessee include the right to occupy the property, the right to privacy, and the right to a habitable living environment.
What are the responsibilities of a Lessor?
The responsibilities of a Lessor include maintaining the property, ensuring it meets safety standards, and addressing any issues or repairs.