Leasee meaning

What does leasee mean? Can I lease on more than one leasee? The company signed a lease for the property in December. The original tenant remains liable throughout the entire term of the lease.

There may be more than one leasee on a lease.

The leasee must pay any fees that are agreed upon. She plans to lease her apartment to a friend. He leased the farm from the sheriff. A lease is a form of agreement wherein, as defined by International Accounting Standard 1 a lessor conveys to the lessee , in return for a payment or series of payments, the right to use an asset for an agreed period of time.

A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. The term or duration of such a contract. To grant use or occupation of under the terms of a contract.

Hill and Kathleen T. All Right reserved. TAKE THE QUIZ TO FIND OUT. A lessee is a person who is paying to lease an asset such as a car or building.

The lessee must make a series of fixed payments an if they fail to do so, the lessor can repossess the asset. In a net lease, the lessee agrees to maintain the asset, insure it, and pay any property taxes. Sometimes, this includes the right to develop land belonging to another, but normally it is the right to live on an already developed property. A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased.

Industrial or business equipment is also leased. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. A lease is a legal agreement by which the owner of a building, a piece of lan or something such as a car allows someone else to use it for a period of time in return for money. 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. The person or entity the lessee rents from is the lessor.

Most lessees must meet certain guidelines and restrictions when using. The owner of the property is the leaser when they rent it by lease to a lessee.

Meaning of co-lessee. Definition of co-lessee in the Definitions. Information and translations of co-lessee in the most comprehensive dictionary definitions resource on the web. An individual or a corporation who has the right of use of something of value, gained through a lease agreement with the real owner of the property. The entity to whom a lease is given, or who takes an estate by lease.

Someone who is allowed to use a house, building, land etc. Business Dictionary. Individual who appears on a lease and is accountable for the terms present in that arrangement.

There could be one or more leasee on a lease. In the event that leasor in a complaint contrary to the leasee , the leasee would be considered the defendant. Noun (plural leasees) 1. In a lease agreement, the lessee is defined as the party that pays for the use of the asset or property. The lessor is the party that receives payments from the lessee in exchange for the usage of its asset or property. Parties’ to the lease means the people or companies involved in the contract.

Your lease will usually show the names of the original parties to the lease on the first page. If you have bought the lease from someone else and are not the first leaseholder, it won’t be your name that appears in the lease. Leasehold= ditto but limited by time (whether 999yrs. or one day!) Head Lease (correctly used) = lease created by freeholder, esp.

If you live in an apartment but your name is not on the lease or if you are paying the rent on a month to month basis, you are a non- lessee. Take, for example, the landlord is looking to demolish the building, the dilapidations will have no effect on the value of the property, meaning there is no right to claim. Like any legally binding matter, it is always best to be safe in order to prevent possible issues.