A partner in a lease taken.

An individual who signs the lease with another individual or company and is responsible for compliance with the lease terms in the event the lessee does not fulfill his or her obligations. A co-lessee may be utilized to help obtain credit approval or simply to put two people such as a husband and wife on a lease together. See also Lessee.

a lessee in addition to the main lessee in an equipment lease

An additional lessee to a lease. The lease will usually provide that the co-lessee is jointly and severally liable on the lease with the lessee.

An individual who co-signs the lease with another individual or company. The co-lessee is responsible for fulfilling lease terms if the primary lessee does not fulfill their obligations. A co-lessee may be used to help someone with poor credit obtain approval, or simply to put the names of two people (such as a husband and wife) on the lease together. See also Lessee.