Who is a lessor?

The correct identification of a lessor is a person who rents property to another. In real estate and rental contexts, the lessor is typically the owner of the property who grants another individual, often referred to as the lessee or tenant, the right to use the property for a specified period in exchange for rent. This relationship is formalized through a lease agreement, which outlines the terms of the rental arrangement, including duration, payment, and responsibilities of both parties.

Recognizing the role of the lessor is fundamental in understanding rental agreements and property leasing dynamics, as they hold the ownership rights and control over the terms under which the property is leased. This knowledge is crucial for anyone involved in real estate transactions or property management, as it clarifies the distinction between the roles of various parties in rental agreements.