Definition

Lessor (Ro.: Locator, Gr.: εκμισθωτής, Cz.: pronajímatel) (See also: lease, lessee, landlord) = Owner or title holder of property in a lease. The other part in the contract is called “lessee” and it refers to the person that occupies the property stipulated. A lease usually has a set term (six months, one year), during which the terms of the lease cannot be changed unless the lessor and the lessee agree.

While the term is often used interchangeably with “landlord” as both refer to the same contractual position, there is a difference in usage given by the contract at stake. “Landlord” is usually used in rental agreements, while “lessor” is used in lease agreements. Also, “landlord” is usually used when referring to the owner of property, while “lessor” does not necessarily imply ownership.

 

Useful links

Legislation

http://www.codulcivil.ro/ - Romanian Civil Code, Articles 1777-1850

http://www.mslawyer.com/statutes/landlord.html - Mississippi Code: Chapter 8. Residential Landlord and Tenant Act

http://www.irishstatutebook.ie/1931/en/act/pub/0055/index.html - Irish Landlord and Tenant Act, 1931

http://www.legislation.gov.uk/ukpga/Eliz2/2-3/56/contents - English Landlord and Tenant Act 1954

http://apps.leg.wa.gov/rcw/default.aspx?cite=59.18 - Washington State Residential Landlord-Tenant Act

http://uniformlaws.org/ActSummary.aspx?title=Residential+Landlord+and+Tenant+Act - Uniform Law Comission, Residential Landlord and Tenant Act Summary

http://www.azhousing.gov/azcms/uploads/publications/Landlord%20Tenant%20Act%20-12-31-12.pdf - Arizona Residential Landlord and Tenant Act

http://www.dutchcivillaw.com/legislation/dcctitle7744.htm - Dutch Civil Code, Lease Agreement

Online Resources

http://www.state.nj.us/dca/divisions/codes/publications/pdf_lti/lease.pdf - State of New Jersey Information Bulletin

http://brown.edu/Administration/Auxiliary_Housing/documents/LTHandbook.pdf - State of Rhode Island Landlord-Tenant Handbook

http://ago.mo.gov/publications/landlordtenant.pdf - State of Missouri’s Landlord-Tenant Law

https://www.fanniemae.com/content/tool/landlord-guidance.pdf - Becoming a Landlord: Rewards, Risks, and Responsibilities

http://delcode.delaware.gov/title6/c076/ - Delaware Lease - Purchase Agreement Act

Publications

Basu, Kaushik and Emerson, Patrick Munro, The Economics and Law of Rent Control (August 1998). World Bank Policy Research Working Paper. 

Howard, Damon P. and Blumenthal, Dan M. and Lebovits, Gerald, New York Residential Landlord-Tenant Law and Procedure (January 1, 2009)

Engel, Christoph, The Social Function of Property (2002). MPI Collective Goods Preprint No. 2002/7

Basu, Kaushik and Emerson, Patrick Munro, The Economics and Law of Rent Control (august 1998). World Bank Policy Research Working Paper

 

By Alexandru Coraș