Definition: The lessor is the party granting the right to possess and use property under a lease. In a direct real estate lease, the lessor is the landlord.
Example
An owner leases an apartment to Maya. The owner is the lessor, and Maya is the lessee.
Keep the distinction clear
A property manager may act for the lessor without owning the property. The landlord’s rights and duties are governed by the lease and applicable law.
Related terms
Keep studying
Property Manager Duties: The Owner, the Agreement, and the Property
References: Cornell LII: lessor
Pronunciation (US): leh-SOR (capitals show stress)
Pronunciation reference: Merriam-Webster
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