What Is the Meaning of Lessor & Lessee?

Answer People who need a place to live, something to drive, or some expensive piece of equipment have an alternative to buying, called leasing. A lease is a legal agreement between two parties that govern... Read More »

Top Q&A For: What Is the Meaning of Lessor & Lessee

What does improvements by lessor landlord mean?

The lessor or landlord is the owner of the property that is being rented. Improvements by the lessor or landlord means steps that were taken to fix, clean, paint and maintain the property. The rent... Read More »

What is lessor's risk only insurance?

Lessors are owners of property or equipment conveyed to another person or corporation by a lease; i.e., the owner of an apartment building is the lessor, tenants are the lessees. Lessor's risk only... Read More »

What is general liability and lessor's risk?

Lessor's Risk Lessor's Risk Only (LRO) provides liability and property coverage for building owners who lease out their entire building or occupy less than 75% of the building and lease out the re... Read More »

Can the irs levy on a property affixed to the land of a lessor?

The Internal Revenue Service can, and will, place a levy on the property of a lessor. The term lessor means someone who owns property and rents it to someone else. Being a lessor is no different th... Read More »