👉 In legal terms, a "lessor" is someone who has an interest in the property or goods of another. This person typically buys the property from the lessor and retains ownership until it is sold to a new owner. The lessor can also be referred to as a tenant, where the lessor owns the property but rents it to tenants.
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What is the definition of Lessors? 🙋
👉 A lesser, in English, refers to a person who is not legally bound to pay rent or mortgage payments for an apartment. This can happen if they have moved out of their own home but still owe money towards property taxes and utilities. They may also be listed as tenants on the lease agreement, but are not paying the rent due to circumstances outside their control.
