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lease
noun
1 a contract by which the owner of a house, land, etc agrees to let someone else use it for a stated period of time in return for payment.
2 the duration of such a contract a six-month lease .
3 the tenure or rights under such a contract.
verb (leased , leasing )
1 said of an owner: to allow someone else to use (a house, land, etc) under the terms of a lease.
2 said of an occupier: to borrow (a house, land, etc) from the owner under the terms of a lease.
[13c: from French lais ]
leasable adjective .
leaser noun a lessee.
a new lease of life a longer or better life or period of usefulness than might have been expected.
leaseback
noun an arrangement whereby the seller of a property, land, etc then leases it from the buyer. Also called sale and leaseback.
leasehold
noun
1 the holding of land or buildings by lease.
2 the land or buildings held by lease. Compare freehold.
leaseholder noun .
© Hodder Education

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