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 ?
Accordingly the insurer can only use the Net of GST/HST method where the lessee can claim an ITC.
In this case, the lessee has every inducement to exercise the renewal option.
We added a new section to explain how lessees can apply asset-based lease accounting and portfolio management software to simplify the process and enable all stakeholders to contribute to accurate and timely financial reporting.
The proposed standard recognizes that, while the lessee may control the underlying asset, title is retained by the lessor.
Permission to use the access road shall be obtained by the Lessee.
13, "Accounting for Leases" (see also FASB Accounting Standards Codification Topic 840), leases that transfer substantially all of the benefits and risks of ownership from the lessor to the lessee are classified as capital leases.
The lessee is usually still responsible for excess mileage, wear and tear and disposition.
Since in this case major risk is borne by the lessor, so the equipment that the lessor chooses is of that kind that in case if the lessee terminates the lease, the lessor will be in a position to lease that equipment to another party easily.
Usually, the options provide benefits to the lessee and induce costs and risks to the lessor.
In the case of a lessee, the unit of property is the portion of the building leased (such as office, floor or certain square footage).
July 18, 2011 /PRNewswire/ -- Ecologic Lessee Services, a global provider of outsourcing, software, and capital sourcing services to corporate and non-profit equipment lessees, today announced the publication of a unique whitepaper that addresses how lessees can prepare for the coming IFRS lease accounting changes.
But Grant Shapps has now announced he will not be introducing the long awaited new accounting requirements that would have protected lessee service charge funds.