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 lease (audio) \ adjective

Synonyms for lease

Synonyms: Verb

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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 The price of the lease was not disclosed, but an industry expert familiar with the transaction but not authorized to talk about it valued it at more than $1 billion. Roger Vincent Staff Writer, Los Angeles Times, 18 Oct. 2021 At the same time, Barletto was looking to get out of the lease on the building that housed his museum. Jim Vinoski, Forbes, 6 Oct. 2021 Councilwoman Jennifer Ide’s motion to push the effective date of the lease back to next January failed by the same margin. Anjali Huynh, ajc, 9 Sep. 2021 Two years later, the arbiter sided with the city and actually raised the rent by $10 million over the life of the lease. Ron Kroichick, San Francisco Chronicle, 5 Sep. 2021 The initial proposal, still being hammered out behind the scenes, called for Related Group to pay Hollywood the same $400,000 in annual rent for the entire 99 years of the lease, or $39.6 million. Susannah Bryan, sun-sentinel.com, 23 Aug. 2021 Under the terms of the lease, the county uses around 20,000 square feet of the 137,000-square-foot building at a cost not to exceed $220,000. Megan Jones, chicagotribune.com, 19 Aug. 2021 Metro staff selected FCGP-Metro in December, a deal that will provide the transit agency with money — such as from sales of townhouses and annual rent for office spaces — over the duration of the lease, according to a Metro staff report. Washington Post, 13 Aug. 2021 And for those who do, the application process is slow, with some tenants needing hours to gather all the necessary paperwork, such as tax returns, paycheck stubs, late-rent notices and a copy of the lease. Dallas News, 26 July 2021 Recent Examples on the Web: Verb The trust will continue acquiring skilled nursing and senior care retirement homes to lease and build their real estate portfolio. Moneyshow, Forbes, 13 Oct. 2021 Ivey and Republican leaders in the Legislature have been meeting for weeks to come up with a plan for prisons after her plan to lease and operate private prisons collapsed in June. Mike Cason | Mcason@al.com, al, 17 Sep. 2021 She was appointed in 2010 to fill the vacant seat of Patte Atkins-Grad, a former city leader criminally charged with bribery for accepting $6,300 from the Chaits to lease a BMW and pay for her election victory party. Lisa J. Huriash, sun-sentinel.com, 30 Aug. 2021 TXRE Properties’ will continue to lease and manage the buildings. Steve Brown, Dallas News, 11 Aug. 2021 Another broad category in this space are companies that own or lease a fleet of private planes and sell tickets directly to the public, operating much like a small, regional airline. Blane Bachelor, Outside Online, 21 June 2021 Larson said the move is necessary as the city continues to explore the possibility of finding a private company to lease and operate the mountain. Brooks Johnson, Star Tribune, 6 May 2021 In 2016, Hughes and his wife co-founded the Association for Commercial Tenants, a nonprofit aimed at educating tenants and working to level the playing field and power imbalance between property owners and the businesses that lease from them. Jeff Mcdonald, San Diego Union-Tribune, 9 Oct. 2021 The agency would trade some its land holdings to the Forest Service for the 40 acres of national forest, and then lease those acres to the U., which happens to be one of its institutional beneficiaries. Brian Maffly, The Salt Lake Tribune, 7 Oct. 2021

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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Dictionary Entries Near lease

leary

lease

lease and release

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Statistics for lease

Last Updated

22 Oct 2021

Cite this Entry

“Lease.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/lease. Accessed 26 Oct. 2021.

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More Definitions for lease

lease

noun

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

More from Merriam-Webster on lease

Nglish: Translation of lease for Spanish Speakers

Britannica English: Translation of lease for Arabic Speakers

Britannica.com: Encyclopedia article about lease

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