- Lease is defined as a legal document in which the terms of an agreement are set out for a person to use someone else's property for a specific period of time.
An example of a lease is the contract under which you agree to rent an apartment for a period of time for a specific amount of money each month.
- The definition of lease is to rent property out to someone or to agree to rent someone else's property.
- An example of lease is when you rent your apartment out to a tenant.
- An example of lease is when you decide to rent an apartment to live in.
This sign indicates where you would go to lease an apartment.
lease definition by Webster's New World
- a contract by which one party (landlord, or lessor) gives to another (tenant, or lessee) the use and possession of lands, buildings, property, etc. for a specified time and for fixed payments
- the period of time for which such a contract is in force: a two-year lease
- the property that is leased
Origin: Middle English leas ; from Anglo-French les ; from Old French lais ; from laissier: see leash
lease definition by American Heritage Dictionary
- a. A contract granting use or occupation of property during a specified period in exchange for a specified rent.b. The term or duration of such a contract.
- Property used or occupied under the terms of such a contract.
- To grant use or occupation of under the terms of a contract.
- To get or hold by such a contract.
Origin: Middle English les, from Anglo-Norman, from lesser, to lease, variant of Old French laissier, to let go, from Latin laxāre, to loosen, from laxus, loose; see slēg- in Indo-European roots.
- leasˈa·ble adjective
- leasˈer noun
lease - Business Definition
lease - Cultural Definition
A contract that grants possession of property for a specified period of time in return for some kind of compensation.
lease - Investment & Finance Definition
A temporary transfer of ownership of an asset, such as real estate or a car, for a set period of time. Regular monthly payments are due on the lease and the lessee is responsible for any maintenance or upkeep expenses. At the end of the lease period, the property reverts back to the owner. However, the lessee may have an option to buy the property at the end of the contract period. Leases often enable a company or individual to have the use of the equipment or property for a significantly lower cost than an outright acquisition. A lease also has the benefit of allowing the lessee to use the most up-to-date equipment or property that is available while avoiding any of the market risk that comes with ownership.
lease - Legal Definition
lease - Phrases/Idioms
new lease on life
a new lease on life