lease


1lease

noun \ˈlēs\

: a legal agreement that lets someone use a car, house, etc., for a period of time in return for payment

Full Definition of LEASE

1
:  a contract by which one conveys real estate, equipment, or facilities for a specified term and for a specified rent; also :  the act of such conveyance or the term for which it is made
2
:  a piece of land or property that is leased
3
:  a continuance or opportunity for continuance <a new lease on life>

Examples of LEASE

  1. They took out a five-year lease on the house.
  2. We hold leases on both of our cars.

Origin of LEASE

Middle English les, from Anglo-French, from lesser
First Known Use: 14th century

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

Rhymes with LEASE

2lease

verb

: to use (something) for a period of time in return for payment

: to allow someone to use (something) for a period of time in return for payment

leasedleas·ing

Full Definition of LEASE

transitive verb
1
:  to grant by lease
2
:  to hold under a lease
leas·able \ˈlē-sə-bəl\ adjective

Examples of LEASE

  1. She leases a red convertible.
  2. I have leased this house for the last four years.
  3. We leased the house to a young married couple.

Origin of LEASE

Anglo-French lesser, laisser, lescher to leave, hand over, lease, from Latin laxare to loosen, from laxus slack — more at slack
First Known Use: circa 1570

Related to LEASE

Synonyms
rent, let [chiefly British]
See Synonym Discussion at hire

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite

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