lease

¹lease

noun \ˈlēs\

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

cease, crease, fleece, grease, Greece, kris, Nice, niece, peace, piece

²lease

transitive verb

leasedleas·ing

Definition of LEASE

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]

Related Words

charter, engage, hire; lodge; sublease, sublet; rack-rent

See Synonym Discussion at hire

Other Business Terms

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