Difference between Lessor and Lienholder
What is the difference between Lessor and Lienholder?
Lessor as a noun is the owner of property that is leased while Lienholder as a noun is used in instances of title of property (such as a vehicle) to refer to the person who has right of property, as opposed to the party that merely has right of possession. the party that only has right of possession is referred to as a registered owner, and in the event the registered owner fails to pay off the lien according to the agreed-to terms, the lienholder has the right to invoke repossession of the property (vehicle).
Lessor
Part of speech: noun
Definition: The owner of property that is leased
Lienholder
Part of speech: noun
Definition: Used in instances of title of property (such as a vehicle) to refer to the person who has right of property, as opposed to the party that merely has right of possession. The party that only has right of possession is referred to as a registered owner, and in the event the registered owner fails to pay off the lien according to the agreed-to terms, the lienholder has the right to invoke repossession of the property (vehicle).
We hope you now know whether to use Lessor or Lienholder in your sentence.
