Dictionary

1lease

noun \ˈlēs\

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

Full 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>
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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

2lease

verb

: 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

leasedleas·ing

Full Definition of LEASE

transitive verb
1
:  to grant by lease
2
:  to hold under a lease
leas·able \ˈlē-sə-bəl\ adjective

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]

Synonym Discussion of LEASE

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>.

Other Business Terms

amortize, caveat emptor, clearinghouse, divest, due diligence, emolument, green-collar, marque, overhead, perquisite
LEASE Defined for Kids

1lease

noun \ˈlēs\

Definition of LEASE for Kids

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

2lease

verb
leasedleas·ing

Definition of LEASE for Kids

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