Lessee Definition – What is Lessee?

Accounting Glossary 

Lessee definition including break down of areas in the definition. Analyzing the definition of key term often provides more insight about concepts. Lessee can be defined as: Party to lease who secures the right to possess and use the property from another party (lessor). Lessee is the party using the property while the lessor is the owner of the property. It is easy to get the terms lessor and lessee confused and it is important to understand which side of a transaction we are talking about.