what is a lessor of real estate

Best answer


The lessor is thelegal owner of the asset or property,and he gives the lessee the right to use or occupy the asset or property for a specific period. During the contract,the lessor retains the right of ownership of the property and is entitled to receive periodic payments from the lessee based on their initial agreement.

People also ask


  • What does it mean to be a lessor of a property?

  • A lessor, in its simplest expression, is someone who grants a lease. As such, a lessor is the owner of an asset that is leased under an agreement to a lessee. The lessee makes a one-time or periodic payments to the lessor in return for the use of the asset. Lessor.

  • Who is the lessor in a lease agreement?

  • Once the lessor and lessee agree, which is a contractual document signed by both parties. There are two main parties in a lease agreement, and they include: The lessor is the legal owner of the asset or property, and he gives the lessee the right to use or occupy the asset or property for a specific period.

  • Who is the lessor of an asset?

  • The lessor in each instance is the owner of the asset. For example, in the case of real estate or a car, the lessor is the property owner or automobile dealer respectively; in the case of a trademark or brand name, the lessor is the company that owns it and has conferred the right to use the trademark or brand name to a franchisee.

  • Is a lessor of residential real estate a separate person?

  • For purposes of the Gross Receipts Tax and Business Registration Fee, a lessor of residential real estate is treated as a separate person with respect to each individual building in which it leases residential real estate units.

    Similar Posts

    Leave a Reply

    Your email address will not be published.