Lease meaning
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.
A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment.
noun
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.
verb
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.
noun
The term or duration of such a contract.
noun
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To grant use or occupation of under the terms of a contract.
verb
To get or hold by such a contract.
verb
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.
noun
The period of time for which such a contract is in force.
A two-year lease.
noun
The property that is leased.
noun
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To get by a lease; take a lease on.
verb
An agreement in which the right of occupancy or use of real property, or the right to use personal property, is conveyed to another for a set period of time in return for consideration, typically in the form of periodic payments.
noun
Lease in which a tenant pays a flat sum inclusive of all utilities and other expenses.
Rental of property without a long term contractual obligation; in actuality, not a lease. May require one month’s notice in order to terminate, depending on local or state law.
Lease in which tenant pays a rental amount for property, plus additional obligations for utilities, taxes, etc.
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Oral agreement for tenancy; see parol.
Business lease agreement whereby the amount to be paid is based on a specified percentage of tenant’s gross or net profits; usually a minimum rental amount is stated.
An agreement under which the lessee of real property conveys his rights, or some subset of them, to a third party.
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To take or hold by lease.
verb
A leasehold.
noun
The place at which the warp-threads cross on a loom.
noun
To give by a lease; let.
verb
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Origin of lease
From Middle English lesen, from Old English lesan (“to collect, pick, select, gather"), from Proto-Germanic *lesanÄ… (“to gather"), from Proto-Indo-European *les- (“to gather"). Cognate with Scots lease (“to arrange, gather"), West Frisian lêze (“to read"), Eastern Frisian lesen (“to gather, read"), Dutch lezen (“to gather, read"), German lesen (“to gather, read"), Danish læse (“to collect, read").