Lessee


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Related to Lessee: lessor

Lessee

An entity that leases an asset from another entity.

Lessee

A tenant; one who has obtained the right to use land, a house, and/or property from its owner. Sometimes, this includes the right to develop land belonging to another, but normally it is the right to live on an already developed property. The contract governing a lessee's rights is a lease; it generally includes the lessee's right to use the property under certain conditions without undue interference from the lessor for the period of time described in the lease. In exchange, the lessee pays rent.

lessee

A party using under lease an asset owned by another party. Compare lessor.

lessee

A tenant; the person or entity entitled to possession under a lease.

Lessee

One who rents property from another. In the case of real estate, the lessee is also known as the tenant.
References in periodicals archive ?
The lessee first identifies its leases as discussed above, then determines whether the leases, based on five lease classification criteria, should be classified as operating or finance.
If the lessor wishes to increase the rent, it must give the lessee written notice at least 3 months before expiry of the second year.
The proposed standard recognizes that, while the lessee may control the underlying asset, title is retained by the lessor.
Right to vary a lease Living in Leasehold Flats, along with many other publications for lessees, can be downloaded freely from www.
In considering the tax treatment we have considered the tax treatment of the lessors assuming that the lessor is not in the same jurisdiction of the lessee.
Research within our membership has highlighted at least 21 areas where friction can be caused between lessees or where action by lessees can make things run more smoothly for everyone.
Lessors report a receivable asset for amounts due from the lessee, not an asset for the leased property itself, even though the lessor retains legal ownership of the property.
The lease would be a triple net lease, under which the lessee would be responsible for all the property's costs and expenses.
The deal was done six years ago in a lessee's market, at fixed pricing very attractive to the lessee.
Unfortunately, the wording of this clause can make the lessor an innocent victim of the named insured's fraudulent acts; ideally, the lessor has provisions in the leasing agreement with the lessee to protect it in such cases.
The dispute between the World Trade Center lessee and insurers is heating up, with the insurer that holds the largest piece of liability from the destroyed complex saying the lessee has forfeited his right to rebuild the center by asking for an immediate cash payment for the actual cash value of the property.