What is the term for the individual or entity who leases a property?

The term for the individual or entity who leases a property is "lessee." A lessee is someone who enters into a lease agreement with a lessor, which is the party that owns the property and grants the lease. The lessee has the right to use the property for a specified period under the terms agreed upon in the lease contract. This relationship is foundational in real estate transactions, highlighting the distinction between ownership and tenancy.

The other terms provided do not accurately describe the leasing party in this context. The term "lesssee" is a common misspelling of "lessee" and is not a recognized legal term. "Leaseholder" typically refers to the holder of a lease but is less commonly used compared to "lessee." "Borrower" usually pertains to someone who is borrowing money, such as in a mortgage context, rather than leasing property. Thus, "lessee" is the correct and widely accepted term for the person or entity leasing the property.