Sale and Lease-Back A company sells an asset it owns to another firm and immediately lease it back. The lessee receives cash from the sale of the asset. -The lessee makes periodic lease payments,thereby retaining use of asset slide 6slide 6 Sale and Lease Sale and Lease -Back A company sells an asset it owns to another firm and immediately lease it back. ƒ The lessee receives cash from the sale of the asset. ƒ The lessee makes periodic lease payments, thereby retaining use of asset