Who is the Lessor?

Hello Preety. I can clear your doubt regarding who is a lessor. To keep it short, a property landlord is referred to as the lessor in the lease agreement. The lessor is a term used in the legal language, which holds the same meaning as a landlord's. As you must know, the landlord or the lessor can be of a residential or a commercial property. Let me tell you more about the lessor below.

Who is the Lessor on a Lease?

To expand on what I said above, a lessor is the owner of an immovable property who rents or leases out the property to another party, the lessee. The lessee can be an individual or an entity.

As Mr Pankaj has already shared the rights of a landlord/lessor, let me tell you the person’s liabilities. 

What are the Liabilities of a Lessor?

The liabilities of a lessor are as follows:

1. The tenant or lessee holds the right to use the property. The lessor can’t interrupt the tenant in any form during the tenancy period.

2. The lessor should allow the property possession upon the request raised by the lessee. This liability arises only at the time of a specific request from the lessee’s end.

3. The lessor needs to share any form of material defect present in the property. Defects can be of two types:

4. A latent defect, which can’t be discovered through inspection.

5. An apparent defect can be discovered through inspection.

This is all from my end. I hope it helps.

Before understanding who is the lessor, we must know a little bit about lease agreement to get the context, don’t you think?

So basically a lease agreement is an agreement between a tenant, herein lessee and a landlord, herein lessor. The lease agreement has all the terms and conditions, party details, financial details, etc. defined clearly. Now that we know details of a lease agreement, let us understand lessor meaning and rights of a lessor according to the law.

Lessor meaning if you say, is basically a landlord who allows the tenant or lessee to occupy or use his/her property for a certain period of time in return for a set rental income. Let us understand this better with an example:

Suppose Rohit has a shop right in a busy commercial area and the bank is interested in setting up an ATM machine there. He gets into a lease agreement with the bank for 10 years and accepts that the rent will be received as per the transactions (financial and non-financial) happening via that ATM machine. In this arrangement, the bank is lessee while Rohit is a lessor.

Now that we have established lessor meaning let us explore rights and obligations of a lessor as per the law. Here are a few worth mentioning:

• Lessor can choose who can have access to the property as a lessee

• he/she has the right to demand security deposit as mentioned in the law

• Lessee is entitled to perform maintenance and repairs

• Lessee has the right to evict the lessor in case of unlawful activities, non payment of rent or on the grounds of breach of lease agreement

These are some of the basic rights and obligations of a lessor.