Lessee The Person That Rents a Property

What is Lessee? Lessee refers to the person or entity that rents a property from a lessor. In the context of property rental, the lessee is the tenant or renter who pays a specified amount of money to the lessor in exchange for the right to occupy and use the …

Lease Extension: Meaning, Process, Examples

What is Lease Extension? Definition A lease extension is a legal agreement that extends the lease term between a landlord and a tenant. It is a mutually beneficial arrangement that provides the tenant with the opportunity to continue living or operating a business in the leased property, while allowing the …