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Lessee

• Has physical control of and uses the assets under a lease contract.

• An entity that leases an asset from another entity.

• Is the person who rents a property from its owner. These properties can be real estate, precious metals or other assets. When the asset is real estate the lessee is the tenant.

 
 Embedded terms in definition
 Assets
Asset
Contract
Control
Its
Lease
Other assets
Precious metals
Real estate
 
 Referenced Terms
 Bargain purchase price option: Gives the Lessee the option to purchase the asset at a price below fair market value when the lease expires.

 Direct lease: A lease under which a lessor owns or acquires the assets that are leased to a given Lessee.Lease in which the lesser purchases new equipment from the manufacturer and leases it to the Lessee.

 Direct lease: A lease under which a lessor owns or acquires the assets that are leased to a given Lessee.Lease in which the lesser purchases new equipment from the manufacturer and leases it to the Lessee.

 Equipment trust certificate: Is a security which is collateralized by specific equipment, often capital in nature. The title is held in trust until the obligation is satisfied. However, the borrower is permitted to use the item provided there are no defaults precluding usage. This security operates in a manner similar to a mortgage or hypothecation agreement.Certificates issued by a trust that was formed to purchase an asset and lease it to a Lessee. When the last of the certificates has been repaid, title of ownership of the asset reverts to the lessee.

 Financial or capital lease: A longer-term lease than an operating lease that is noncancelable and obligates the Lessee to make payments for the use of an asset over a predefined period of time; the total payments over the term of the lease are greater than the lessor's initial cost of the leased asset.

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