leasing
lessor
The lessor is the landlord, the owner who grants a lease giving another party, the lessee, the right to possess and use property for a period in exchange for rent. The lessor keeps a reversionary interest, meaning possession returns at the end of the lease. The lessor must generally provide quiet enjoyment and, for residential property, a habitable dwelling under many state laws.
- Exam tip
- The "-or" ending gives the right: the lessor gives the lease, the lessee receives it. This matches grantor/grantee and mortgagor/mortgagee patterns.
- Example
- An owner leases an apartment to a student for 12 months at $1,200 per month. The owner is the lessor and the student is the lessee.
Related terms & state variants
Sources
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Last verified: 2026-10-23