Definition

1. Noun:
   • A person or entity that grants a lease: A lessor is the owner of property (such as land, a building, or equipment) who allows another party to use it for a specified period in exchange for periodic payments, as formalized in a lease agreement.

Usage

• The term "lessor" is used in legal, business, and real estate contexts to identify the party who holds the title to the property and grants the right of use to another.
• It is the formal counterpart to "lessee" (the tenant or renter).
• Example:

Examples

Advanced Usage

• "Lessor's interest": Refers to the legal and financial rights the lessor retains in the leased property.
  • The lessor's interest includes the right to receive rent and reclaim the property at the lease's end.
• "Lessor accounting": A specific area of accounting dealing with how lessors record lease transactions and revenue.
  • The new standards changed the rules for lessor accounting.

Variants and Related Words

• Lease (n/v): The contract itself, or the act of granting or taking property by lease.
• Lessee (n): The party who rents the property from the lessor; the tenant.
• Leasehold (n): The interest or right held by a lessee.
• Landlord (n): A common synonym, though "landlord" typically refers to a lessor of residential property, while "lessor" can apply to any type of leased asset.

Synonyms

• Landlord: (Common for residential property)
• Lease grantor: (Formal equivalent)
• Rentor: (Less common variant)

Antonyms

• Lessee: The tenant or party who rents the property.
• Tenant: The occupant who holds the lease.

Related Phrases

• Lessor and lessee: The two primary parties in a lease agreement.
  • The dispute was between the lessor and lessee over repair costs.
• Lessor under lease: A formal way to specify the granting party within a contract.
  • The obligations of the lessor under the lease include providing a habitable premises.

Noun

1. someone who grants a lease