A lessor is the owner of leased property. The lessor allows a lessee to use the property in exchange for periodic rental payments. A leasing arrangement is defined in a lease agreement, which can include a number of special terms, such as the ability of the lessee to extend a lease or to buy the leased asset at a bargain price.

Similar Terms

A lessor is known as a landlord when real property is being leased.

Related Courses

Accounting for Leases