Definition of Lessee:
Lessees that rent a property may be required to follow certain restrictions and guidelines in the use of the property or real estate they are paying to access and use. If the property is a vehicle under a lease, the lessee may need to keep their usage within certain mileage limits. The lessee could be subject to pay additional fees in the event that the mileage usage of the leased vehicle exceeds the agreed-upon limits.
A lessee is a person who rents land or property from a lessor. The lessee is also known as the "tenant" and must uphold specific obligations as defined in the lease agreement and by law. The lease is a legally binding document and if the lessee violates its terms he or she could be evicted.
User or renter of the leased asset or property. In case of capital leases, the lessee is also the debtor to the lessor. When real estate is leased, the lessee is called a tenant.
A person who holds the lease of a property; a tenant.
Synonyms of Lessee
Board-and-roomer, Boarder, Hirer, Homesteader, Incumbent, Leaseholder, Lodger, Occupant, Occupier, Paying guest, Renter, Resident, Roomer, Squatter, Sublessee, Subtenant, Tenant, Tenant at sufferance, Tenant for life, Transient, Transient guest, Underlessee
How to use Lessee in a sentence?
- Most lessees must meet certain guidelines and restrictions when using the property, such as mileage limits on leased vehicles. .
- Lessees, also known as tenants, may have different restrictions depending on the space, as is the case with commercial and residential properties.
- The answer is, so that the registration authority can give appropriate notice to owners, lessees, tenants or occupiers, or to others who might wish to object to an application to register.
- A lessee is a person that rents land or property, such as a vehicle. The person or entity the lessee rents from is the lessor. .
- When you are dealing with the lessee just be sure to get a deposit so that it will cover any damages they may cause.
- Upon deciding to move out of the house he had been leasing, the lessee realized he would quickly need to find a newer, nicer place to live.
- If you are the lessee it is important that you take good care of the property so you dont lose any of your deposit.
Meaning of Lessee & Lessee Definition