new lease of life

noun

1. 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
2. the period of time for which such a contract is in force a two-year lease
3. the property that is leased

Etymology: ME leas < Anglo-Fr les < OFr lais < laissier: see leash

transitive verb leased, leasing leas′·ing

1. to give by a lease; let
2. to get by a lease; take a lease on

Etymology: Anglo-Fr lesser < OFr laissier