Meaning of “lessor” in the English Dictionary

business-english dictionary

(Definition of “lessor” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"lessor" in Business English

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lessornoun [ C ]

uk /lesˈɔːr/ us /ˈlesɔr/ LAW, PROPERTY

a person or organization that allows another person or organization to use something they own in return for regular payments:

An asset may be repossessed by the lessor in the event of a default on the lease payments.

(Definition of “lessor” from the Cambridge Business English Dictionary © Cambridge University Press)