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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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 Activists for homeless people say this money could be potentially transformative for people who lack the savings to put down first and last months’ rent on a lease or have mounting medical bills. Benjamin Oreskes, Los Angeles Times, "Federal stimulus checks can be lifesavers for homeless people — if they can get them," 8 Apr. 2021 The new location has been in the works since 2018, when Mayor London Breed and the city’s Office of Economic and Workforce Development heralded the signing of the lease as a big win for more than 20,000 area residents. Serena Dai, San Francisco Chronicle, "San Francisco's first H Mart is hiring, signaling the Korean grocery's debut may be imminent," 8 Apr. 2021 The guidelines, released Tuesday by the California Department of Housing and Community Development, or HCD, make clear that the Surplus Land Act, as amended by the state legislature in late 2019, applies to local agency property that is for lease. Jennifer Van Grove, San Diego Union-Tribune, "City forced to reexamine sports arena deal," 7 Apr. 2021 The 17,000-square-foot complex will include build-to-suit office space and covered parking spaces for lease, and is scheduled to open later this year. Anna Caplan, Dallas News, "McKinney’s airport operator flying high after receiving international recognition," 7 Apr. 2021 The agreement, Harker says, was that the rent would drop from that inflated rate at the end of the lease in 2022. BostonGlobe.com, "For Kenmore Square, does the end of an era mean a promising future?," 3 Apr. 2021 Storey says the terms of the lease are not final and still subject to negotiation. Susannah Bryan, sun-sentinel.com, "Another beachside tower could tie up public land for ages. And it may be a bum deal anyway.," 2 Apr. 2021 Last summer, at the height of the pandemic, I was involved in putting a house up for lease. Michael Agresta, Curbed, "Did the Texas Blackouts Reveal Austin’s New Real-Estate Hot Spots?," 29 Mar. 2021 Currently available for commercial lease are Morris Avenue ground-level spaces from 500 square feet up to 1,800 square feet, some with frontage on Morris Avenue and others facing the pedestrian plaza. William Thornton | Wthornton@al.com, al, "Mercantile on Morris commercial plaza set to open in April," 19 Mar. 2021 Recent Examples on the Web: Verb Odom expects the number of sites to mushroom in the next couple of years, creating many opportunities for property owners to lease space. Chris Kornelis, WSJ, "Property Owners Look to Lease Space for Cellular Equipment," 24 Mar. 2021 Rather than lease the warehouse space for its centers, Saltbox teams with building owners on the projects. Steve Brown, Dallas News, "Co-working warehouses? It’s a thing and it’s arriving in North Texas," 4 Mar. 2021 Under new rules, states are allowed to lease this spectrum to third parties to boost wireless broadband, improve critical infrastructure monitoring and facilitate public safety. David Jacobs, Washington Examiner, "Louisiana task force recommends auctioning parts of spectrum previously reserved for public safety," 24 Feb. 2021 Now the owners are offering to lease the prominent retail corner to tenants that want the spot for the next two years or so. Steve Brown, Dallas News, "Uptown Dallas hotel project pause offers retail opportunities," 29 Jan. 2021 The problem is compounded by a growing waitlist and the department’s chronic money woes, shortfalls that prompt the agency to lease some of its Oahu lands to commercial interests. Promised Land, ProPublica, "The Government Promised to Return Ancestral Hawaiian Land, Then Never Finished the Job," 19 Dec. 2020 One of the changes that contributed to the savings was deciding to lease another floor to outside tenants, Chief Financial Officer Ben Gorzell said. Madison Iszler, ExpressNews.com, "Costs of turning former Frost HQ into city offices now tops $140 million," 17 Dec. 2020 When Stowe was in Huntsville, the utility made a deal to lease excess dark fiber capacity to Google. al, "Former Huntsville Utilities CEO takes reins of Florida utility service," 14 Dec. 2020 After container ships outgrew the terminal, the port decided in 2001 to lease the site to a team led by Signature Development Group. John King, SFChronicle.com, "Oakland’s new waterfront park is a startling remake of a derelict pier," 18 Nov. 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

13 Apr 2021

Cite this Entry

“Lease.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/lease. Accessed 13 Apr. 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

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