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Question
The person who issues the lease is known as
A.
Lease
B.
Lessor
C.
Lesser
D.
Lessee
Answer ( Option B)

Lessor

Solution

Lessee: The leaseholder (the person who takes the lease) is known as the lessee and holds the physical possession of the property for a definite period under terms and condition specified in the lease document.
Lessor: The lessor is the person or party that issues the lease (allows the property to be rented).

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