Lessee definition: Copy, customize, and use instantly
Introduction
A “Lessee” is an individual or entity that leases or rents property from another party, known as the lessor. The lessee gains the right to use the property for a specified period in exchange for regular payments. The term applies to various leasing arrangements, including residential, commercial, and equipment leases. Understanding the responsibilities and rights of the lessee is crucial for the successful management of a lease agreement.
Below are various examples of how "Lessee" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Lessee" in a residential lease
This definition ties "Lessee" to residential property leases.
"Lessee" refers to the individual or family who has entered into a lease agreement with the landlord to occupy a residential property for a specified term, agreeing to abide by the conditions set forth in the lease.
Definition of "Lessee" in a commercial lease
This definition connects "Lessee" to commercial property leasing.
"Lessee" refers to a business or entity that leases commercial real estate, such as office or retail space, from a lessor for business operations under an agreed-upon lease term.
Definition of "Lessee" in an equipment lease
This definition links "Lessee" to leasing equipment.
"Lessee" means the party who has leased equipment from the lessor, agreeing to use the equipment for a specified duration in exchange for periodic payments as outlined in the lease agreement.
Definition of "Lessee" as a tenant
This definition connects "Lessee" to the tenant's role.
"Lessee" refers to the individual or entity that rents a property, typically residential or commercial, from a lessor, with the right to occupy the property for a defined period and under the terms of the lease agreement.
Definition of "Lessee" in a vehicle lease
This definition ties "Lessee" to vehicle leasing.
"Lessee" means the individual or entity that leases a vehicle from a lessor for personal or business use, agreeing to make periodic payments for the use of the vehicle.
Definition of "Lessee" as a renter
This definition links "Lessee" to renting property.
"Lessee" refers to the person or organization that has entered into an agreement to rent property from a landlord or lessor for a specified duration and under mutually agreed terms.
Definition of "Lessee" in a lease-to-own agreement
This definition connects "Lessee" to rent-to-own arrangements.
"Lessee" refers to the individual or entity leasing an asset with an option to purchase the asset at the end of the lease term, typically involving payments made over time.
Definition of "Lessee" in a long-term lease
This definition ties "Lessee" to long-duration leasing.
"Lessee" means the party who leases a property, such as land or real estate, for a long-term period under an agreement that often spans several years, subject to specific terms and conditions.
Definition of "Lessee" as a party responsible for maintenance
This definition links "Lessee" to maintenance responsibilities.
"Lessee" refers to the tenant who is responsible for maintaining the leased property during the lease term, including routine repairs, unless otherwise specified in the lease agreement.
Definition of "Lessee" in a financial lease
This definition connects "Lessee" to financial leases.
"Lessee" refers to the entity that has entered into a financial lease, where the lessee is responsible for the asset's use and, in some cases, for maintaining and insuring the asset as if they owned it.
Definition of "Lessee" in a lease agreement with an option to purchase
This definition ties "Lessee" to agreements with purchase options.
"Lessee" means the individual or entity who leases property or equipment with an option to purchase it at the end of the lease term, typically at a predetermined price or market value.
Definition of "Lessee" in a lease agreement for real property
This definition connects "Lessee" to real estate leasing.
"Lessee" refers to the party who leases real property, such as an apartment, office, or land, from a lessor for a fixed term, agreeing to pay rent and follow the lease terms.
Definition of "Lessee" as a lessee in a finance lease
This definition links "Lessee" to a financial leasing context.
"Lessee" means the party in a finance lease who effectively assumes the risks and rewards of ownership of the leased asset, even though the lessor technically owns the asset.
Definition of "Lessee" as responsible for insurance
This definition ties "Lessee" to insurance responsibilities.
"Lessee" refers to the tenant or party renting an asset who may be required to obtain and maintain insurance coverage for the leased property during the lease term.
Definition of "Lessee" in a sublease agreement
This definition connects "Lessee" to subleasing.
"Lessee" refers to the individual or entity that originally leased the property and then rents or sublets the property to another party under the terms of a sublease agreement.
Definition of "Lessee" in an operating lease
This definition ties "Lessee" to operating leases.
"Lessee" refers to the party that rents an asset under an operating lease, where the lease term is typically shorter than the asset’s useful life, and the lessee is not required to assume ownership of the asset.
Definition of "Lessee" in a property rental agreement
This definition links "Lessee" to property rental.
"Lessee" refers to the person or business renting property from a lessor, typically for residential, commercial, or industrial purposes, under the terms outlined in a rental agreement.
Definition of "Lessee" in a lease agreement with flexible terms
This definition connects "Lessee" to flexible lease terms.
"Lessee" means the party who leases an asset under a flexible lease agreement, allowing modifications to the terms, such as the lease duration or payment amounts, during the lease term.
Definition of "Lessee" in a lease agreement with fixed rent payments
This definition ties "Lessee" to fixed rental terms.
"Lessee" refers to the individual or entity who leases property and agrees to pay a fixed rent amount for the duration of the lease agreement.
Definition of "Lessee" in a triple net lease
This definition connects "Lessee" to a triple net lease.
"Lessee" refers to the party responsible for paying all operating expenses of the leased property, including property taxes, insurance, and maintenance, in addition to rent under a triple net lease.
Definition of "Lessee" as a party with the right to quiet enjoyment
This definition links "Lessee" to property rights.
"Lessee" means the individual or entity leasing property who has the right to quiet enjoyment of the property without interference from the lessor or third parties during the lease term.
Definition of "Lessee" in a lease agreement with renewal options
This definition ties "Lessee" to lease renewals.
"Lessee" refers to the party who has the option to renew the lease for additional terms upon expiration of the original lease term, as outlined in the lease agreement.
Definition of "Lessee" in an industrial lease
This definition connects "Lessee" to industrial property leasing.
"Lessee" means the business or entity that leases industrial space, such as a warehouse or manufacturing facility, from a lessor under the terms of a lease agreement.
Definition of "Lessee" in a lease with escalation clauses
This definition links "Lessee" to rent escalation terms.
"Lessee" refers to the tenant who agrees to periodic increases in rent as specified in the lease agreement, often linked to inflation or market conditions.
Definition of "Lessee" in a short-term lease
This definition connects "Lessee" to short-term leases.
"Lessee" refers to the individual or entity that rents property for a short duration, typically under a month-to-month or fixed-term lease agreement.
Definition of "Lessee" in a lease for agricultural use
This definition ties "Lessee" to agricultural property leasing.
"Lessee" refers to the individual or entity that leases agricultural land from a lessor for the purpose of farming, ranching, or related agricultural activities.
Definition of "Lessee" in a lease with termination clauses
This definition connects "Lessee" to lease termination conditions.
"Lessee" refers to the party who enters into a lease agreement that includes conditions under which the lessee or lessor may terminate the agreement prior to the end of the lease term.
Definition of "Lessee" in a lease for office space
This definition links "Lessee" to office space leasing.
"Lessee" refers to the party that rents office space from a lessor for business purposes, with terms regarding rent, maintenance, and other responsibilities outlined in the lease agreement.
Definition of "Lessee" in a corporate lease
This definition ties "Lessee" to corporate leasing arrangements.
"Lessee" refers to a corporation that leases property, such as office space or industrial facilities, under the terms agreed with the lessor, typically for operational or business use.
Definition of "Lessee" in a lease for hospitality use
This definition connects "Lessee" to hospitality leases.
"Lessee" refers to the individual or entity leasing property for use as a hotel, resort, or other hospitality purposes, agreeing to terms of rent and property management.
Definition of "Lessee" in a lease agreement with maintenance obligations
This definition links "Lessee" to property upkeep.
"Lessee" means the party that leases property and is responsible for maintaining the property in good condition throughout the lease term, unless the lease specifies otherwise.
Definition of "Lessee" in a lease for a specific purpose
This definition ties "Lessee" to specialized lease uses.
"Lessee" refers to the individual or entity leasing property for a specific, defined purpose, such as retail, manufacturing, or storage, as outlined in the lease agreement.
Definition of "Lessee" in a lease with a buyout option
This definition connects "Lessee" to lease buyouts.
"Lessee" refers to the individual or entity who may purchase the leased property at the end of the lease term, often at a predetermined price, under the terms of a lease with a buyout clause.
Definition of "Lessee" as an entity leasing intellectual property
This definition links "Lessee" to intellectual property leasing.
"Lessee" refers to the party who leases intellectual property rights, such as patents, trademarks, or copyrights, from the intellectual property owner under a licensing agreement.
Definition of "Lessee" in a lease for a multi-use property
This definition ties "Lessee" to mixed-use property leasing.
"Lessee" refers to the individual or entity leasing property that serves multiple purposes, such as a combination of retail, residential, and office spaces.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.