lessee /lɛˈsiː/ noun3 •An individual or a corporation who has the right of use of something of value, gained through a lease agreement with the real owner of the property.These automobiles will be covered for the three excluded perils, if loss is caused by the lessee or the rentee. — 1989 •The entity to whom a lease is given, or who takes an estate by lease. •Someone who is allowed to use a house, building, land etc. for a period of time in return for payment to the owner. formslessees