Let's Compare Lessee and Lessor. 1  LESSEE VS.  Lessee. A lease is a contractual arrangement calling for the (user) to pay the lessor (owner) for use of an asset. Lessee \Les*see\ (l[e^]s*s[=e]), n. [F. laiss['e], p. p. of laisser. See {Lease}, v. t.] (Law) The person to whom a lease is given, or who takes an estate by lease. --Blackstone.