First Known Use: 14th century
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>
See lease defined for English-language learners
See lease defined for kids
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Origin of LEASE
Middle English les, from Anglo-French, from lesser
Other Business Terms
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
See lease defined for English-language learners
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
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
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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