 Hello in this lecture we will define Lesor according to fundamental accounting principles while the 22nd edition the definition of Lesor is party to a lease who grants another party the leasee the right to possess and use its property so we're talking about a piece of property here and we want to compare and contrast the two people involved in this transaction the Lesor versus the less see we need to not get those two terms confused if we look at an example we have the home being the piece of property that will then be at least we have the lease or who owns the property who is going to let someone else use the property the leasee and have the use of that property however not the ownership of the property the leasee being the person that will then be using the property however does not have ownership ultimately of the property over the time of use the leasee will incur rent that rents will be paid by the leasee the user of the property to the Lesor the owner of the property for that usage for that time period