The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments
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Lease - Wikipediangs and vehicles are common assets that are leased. Industrial or business equipment is also leased. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. <span>The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments.[2] The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car w Summary
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