Which term describes the entity that provides the lease?

The term that describes the entity that provides the lease is "lessor." In leasing agreements, the lessor is the party that grants the use of an asset to another party (the lessee) for a specified period in exchange for payment. The lessor retains ownership of the asset during the lease term, which is a key distinction in leasing arrangements.

Understanding the role of the lessor is critical in leasing law, as it defines who holds the legal title of the asset, and influences the terms of the lease including maintenance obligations, rights of renewal, and the conditions under which the lessee can use the asset. This role is foundational in distinguishing it from the lessee, who is the recipient of the lease and responsible for adhering to the terms set forth by the lessor.