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.
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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:
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.
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.
The lessor needs to share any form of material defect present in the property. Defects can be of two types:
A latent defect, which can’t be discovered through inspection.
An apparent defect can be discovered through inspection.
This is all from my end. I hope it helps.
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- 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
Who is the Lessor?
Preety
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2021-12-08T14:52:38+00:00 2024-10-28T10:03:13+00:00Comment
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