Definition, Meaning & Synonyms
lessee
noun
/lɛˈsiː/
Definition
A lessee is a person or entity that leases property or equipment from another party, known as the lessor.
Examples
- The lessee agreed to pay the rent on the first of each month.
- As a lessee, you have the right to occupy the leased premises for the duration of the contract.
Meaning
The lessee enters into a lease agreement to use the property for a specified period while paying rent to the lessor.
Synonyms
- tenant
- renter
- leaseholder
