lease

noun
\ ˈlēs How to pronounce lease (audio) \

Definition of lease

 (Entry 1 of 2)

1 : a contract by which one conveys real estate, equipment, or facilities for a specified term and for a specified rent took out a five-year lease on the house 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

lease

verb
leased; leasing

Definition of lease (Entry 2 of 2)

transitive verb

1 : to grant by lease
2 : to hold under a lease

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Other Words from lease

Verb

leasable \ ˈlē-​sə-​bəl How to pronounce leasable (audio) \ adjective

Synonyms for lease

Synonyms: Verb

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Choose the Right Synonym for lease

Verb

hire, let, lease, rent, charter mean to engage or grant for use at a price. hire and let, strictly speaking, are complementary terms, hire implying the act of engaging or taking for use and let the granting of use. we hired a car for the summer decided to let the cottage to a young couple lease strictly implies a letting under the terms of a contract but is often applied to hiring on a lease. the diplomat leased an apartment for a year rent stresses the payment of money for the full use of property and may imply either hiring or letting. instead of buying a house, they decided to rent will not rent to families with children charter applies to the hiring or letting of a vehicle usually for exclusive use. charter a bus to go to the game

Examples of lease in a Sentence

Noun They took out a five-year lease on the house. We hold leases on both of our cars. Verb She leases a red convertible. I have leased this house for the last four years. We leased the house to a young married couple.
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Recent Examples on the Web: Noun CCVIP board members gathered Friday to celebrate securing the Carroll Street facility lease, which is effective Nov. 1. . Mary Grace Keller, baltimoresun.com/maryland/carroll, "Carroll County Veterans Independence Project finds home in Westminster, seeks executive director," 18 Oct. 2020 The price and terms of lease and sale for property at El Corazon were discussed at the council’s Oct. 7 meeting, the agenda states. Phil Diehl, San Diego Union-Tribune, "Oceanside seeks indoor soccer arena on park property," 18 Oct. 2020 The hard numbers in the CFPB's complaint database show that more than 2800 auto loan and lease complaints were submitted between March and July 2020. Sebastian Blanco, Car and Driver, "Auto Loans Were Left out of the CARES Act, and People Are Hurting," 16 Oct. 2020 City Council is expected to approve next month the lease-to-purchase of a new $591,268 fire engine for the Seven Hills Fire Department. John Benson, cleveland, "Seven Hills Fire Department hopes to replace 1997 fire engine with new $591,000 pumper truck," 15 Oct. 2020 Already, along some of El Paso’s busiest streets, including Mesa, there is an increasing number of ‘for lease’ signs and shuttered businesses. Dallas News, "Spike in virus cases may derail plans to completely reopen the border," 15 Oct. 2020 The Bengal's lease with the county expires in 2026. Scott Wartman, The Enquirer, "Democrats seek to stay in complete control of Hamilton County commission. Here's what you should know about this key race.," 14 Oct. 2020 Small businesses that rent space note that landlords would pass on the tax hike in lease agreements. The Editorial Board, WSJ, "California’s Next Big Tax Gulp," 14 Oct. 2020 While Clare has benefited from the uptick in DIY during the pandemic, Gibbons has also had to make tough choices, including giving up the company's office lease to preserve capital amid broad uncertainty. Fortune Staff, Fortune, "‘Quarantine jeans’ and athleisure: How clothing retailers are adapting to pandemic life," 14 Oct. 2020 Recent Examples on the Web: Verb Within the next year as the company seeks to lease and install as many as 1,000 consoles. Riley Griffin, Bloomberg.com, "Operating Rooms Turn to Zoom-Like Technology for the Age of Covid," 7 Oct. 2020 Orlando will lease the museum the property for $1 per year, similar to deals the city has with other cultural institutions. Matthew J. Palm, orlandosentinel.com, "High-tech partnership will catapult new Orlando museum onto world stage," 1 Oct. 2020 Bob Greene, president and owner of Air Control Products, was more than happy to lease a portion of his land to them for $1 a year. Shirley Macfarland, cleveland, "Community spirit grows with love of gardening: Talk of the Towns," 18 Sep. 2020 Operators may lease space in a centralized kitchen or a co-op space, freeing them of a major expense associated with the food business. Hallie Miller, baltimoresun.com, "Coronavirus in Maryland: 5 takeaways from the week," 18 Sep. 2020 The city will lease the land for five years, with an option to renew on each of those five years. Stacy Ryburn, Arkansas Online, "Council opts to lease space for outdoor stage," 16 Sep. 2020 The council approved the contract in October 2016, and the city began paying $535,000 a month to lease the property the following January. Jeff Mcdonald, San Diego Union-Tribune, "Ash Street appraisal says $67.1M valuation was ‘hypothetical’," 12 Sep. 2020 The developers will finance, build, and maintain the prisons, which the state will lease and operate. Mike Cason | Mcason@al.com, al, "Alabama lawmakers concerned about risk, cost of private prisons," 6 Sep. 2020 The state would lease the facilities and staff them with state officers. Kim Chandler, Star Tribune, "Alabama gov seeks 3 private built mega prisons, names sites," 3 Sep. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'lease.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of lease

Noun

14th century, in the meaning defined at sense 1

Verb

circa 1570, in the meaning defined at sense 1

History and Etymology for lease

Noun

Middle English les, from Anglo-French, from lesser

Verb

Anglo-French lesser, laisser, lescher to leave, hand over, lease, from Latin laxare to loosen, from laxus slack — more at slack

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Time Traveler for lease

Time Traveler

The first known use of lease was in the 14th century

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Statistics for lease

Last Updated

21 Oct 2020

Cite this Entry

“Lease.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/lease. Accessed 21 Oct. 2020.

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More Definitions for lease

lease

noun
How to pronounce lease (audio)

English Language Learners Definition of lease

 (Entry 1 of 2)

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

lease

verb

English Language Learners Definition of lease (Entry 2 of 2)

: 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

lease

noun
\ ˈlēs How to pronounce lease (audio) \

Kids Definition of lease

 (Entry 1 of 2)

1 : an agreement by which a person exchanges property (as a car or house) for a period of time in return for payment or services
2 : a piece of property that is leased

lease

verb
leased; leasing

Kids Definition of lease (Entry 2 of 2)

: to give or get the use of (property) in return for payment or services

lease

noun
\ ˈlēs How to pronounce lease (audio) \

Legal Definition of lease

 (Entry 1 of 2)

1a : a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment of it for a specified rent and a specified term after which the property reverts to the owner also : the act of such conveyance or the term for which it is made — see also sublease — compare easement, license, security interest at interest sense 1, tenancy

Note: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of goods for a term in return for consideration.”

building lease
: ground lease in this entry
consumer lease
: a lease made by a lessor regularly engaged in the selling or leasing of a product to a lessee who is leasing the product primarily for his or her personal or household use
finance lease
: a lease in which the lessor acquires goods from a supplier in accordance with the specifications of the lessee

Note: Under section 2A-103 of the Uniform Commercial Code, before the lessor signs the lease or the lease becomes effective, the lessee must receive a copy of or approve of the contract by which the goods were acquired or must receive a statement of terms (as warranties, disclaimers, and liquidated damages) relating to the contract or notification of where such information can be obtained.

ground lease
: a lease of land usually for a long term in consideration of the payment of rent and with the agreement that the lessee build or improve a structure on the land

called also building lease

mineral lease
: a lease granting the right to work a mine and extract the minerals or other valuable deposits from it under prescribed conditions (as of time, price, or royalties)

called also mining lease

net lease
: a lease requiring the lessee to assume all operation expenses (as for maintenance, insurance, and taxes) in addition to the payment of rent
operating lease
: a lease of property and especially equipment for a term which is shorter than the property's useful life and in which the lessor is responsible for certain expenses (as taxes)
perpetual lease \ pər-​ˈpe-​chu̇-​wəl-​ \
: a lease renewable forever at the lessee's option
proprietary lease
: a lease used to convey to a member of a cooperative the exclusive possession of a residential unit
true lease
: a lease that resembles a security agreement but retains the attributes of a lease
b : property and especially real property that is leased
2 in the civil law of Louisiana : a contract by which a person provides labor or services for a price

lease

verb
leased; leasing

Legal Definition of lease (Entry 2 of 2)

transitive verb

1 : to grant by lease to another leases mopeds to tourists
2 : to hold under a lease a company leasing a fleet of cars for its executives

intransitive verb

1 : to be under a lease or subject to a lease the vacation house leases for $500 a week
2 : to grant property by a lease have leased to students in the past

History and Etymology for lease

Noun

Anglo-French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack

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