What Does Lessor Mean?


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Yooti Bhansali answered
In real estate terms, a lessor refers to that person who lets or gives out property on a lease. He or she is the holder of real property who provides another the right to utilise it in return for hire payments.

There are three kinds of leases for the lessor. They include the Direct Financing Lease, the Sales-Type Lease as well as the Operating Lease.

The lessor of actual land is called as a landlord. A lessor is basically a person who gives or grants someone a lease or rent.

A lease refers to an official agreement that gives one the right of possession as well as the usage of an asset for a certain fixed period in return for monetary payments. Here, the party that owns the leased out property is the lessor in the bargain, and the party that is putting the property to use is the lessee.

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