lessor (English)
Loading AI analysis...
Loading Wikipedia extract...
Contributed by: Dhiraj Kalita on 2012-06-11
1. LegalLessor is a participant of the lease who takes possession of the property and provides it as a leasing subject to the lessee for temporary possession. For example, in leasehold estate, the landlord is the lessor and the tenant is the lessee. The lessor may be the owner of the property or an agent authorized on the owner's behalf. Commercial banks, credit non-bank organizations, leasing companies often act as lessors.
== Terminology ==
A lessor can be both legal entity and individual. Nevertheless, the term leasing company sometimes is used as a synonym to the term lessor.
The seller of the property and the lessor can be one and the same person.
== The role of lessor ==
The process of interaction of the lessor with other participants of the leasing contract is as follows:
The lessee chooses the seller who possesses the required property
The lessor acquires this property. They acquire the property not for their own use, but specifically for assignment for temporary use.
The lessor transfers... from wikipedia.org