Bailee

Bailee
An individual who temporarily gains possession, but not ownership, of a good or other property under a bailment. The bailee is entrusted with the possession of the good or property by another individual known as the bailor. This relationship is based on a contractual agreement (a bailment) between the bailor and the bailee, which specifies the terms and purpose of the change in ownership.

While the goods are in the bailee's possession, the bailor is still the rightful owner. However, the bailee is responsible for their safekeeping and eventual return. Typically, the bailee is not entitled to use the goods or property. A bailee can serve as the overseer of an investment portfolio for a specified time period, or can be appointed to manage a rental property in the owner's absence. The bailee ensures the assets are kept safe until the owner of those assets is able to resume management.


Investment dictionary. . 2012.

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  • bailee — bail·ee /bā lē/ n: an individual or entity (as a business organization) having possession of another s personal property under a bailment ◇ Carriers and warehouses are two examples of bailees. A bailee s liability for loss or damage to property… …   Law dictionary

  • bailee — bail‧ee [beɪˈliː] noun [countable] LAW someone who has the right to use someone else s property, but without becoming its owner: • Under this arrangement, the bailee has an option to purchase the goods at a later date. * * * bailee UK US… …   Financial and business terms

  • Bailee — Bail ee (b[=a]l [=e] ), n. [OF. baill[ e], p. p. of bailler. See {Bail} to deliver.] (Law) The person to whom goods are committed in trust, and who has a temporary possession and a qualified property in them, for the purposes of the trust.… …   The Collaborative International Dictionary of English

  • bailee — [bāl ē′] n. [ BAIL1 + EE1] the party to whom property is delivered under contract of bailment …   English World dictionary

  • bailee —    One to whom the property of another the bailor is entrusted for a limited period. A museum that has assumed temporary custody of an object is a bailee …   Glossary of Art Terms

  • bailee — In the law of contracts, one to whom goods are bailed; one to whom goods are entrusted by a bailor; the party to whom personal property is delivered under a contract of bailment. A species of agent to whom something movable is committed in trust… …   Black's law dictionary

  • bailee — In the law of contracts, one to whom goods are bailed; one to whom goods are entrusted by a bailor; the party to whom personal property is delivered under a contract of bailment. A species of agent to whom something movable is committed in trust… …   Black's law dictionary

  • Bailee Madison — en 2008 Données clés Naissance 15 octobre  …   Wikipédia en Français

  • Bailee Madison — (2011) Bailee Madison (* 15. Oktober 1999 in Fort Lauderdale, Florida) ist eine US amerikanische Schauspielerin. Inhaltsverzeichnis …   Deutsch Wikipedia

  • bailee custodian — A person with whom some article is left, usually pursuant to a contract, who is responsible for the safe return of the article to the owner when the contract is fulfilled. Examples include banks holding bonds, storage companies where furniture or …   Law dictionary

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