Definition of lease in English:

lease

noun

  • A contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment.

    • ‘The Judge heard that the applicant had taken a lease of the premises.’
    • ‘At the end of this month, a one-year lease expired.’
    • ‘Also, they should know for how long the lease should be and how much they want to pay a month.’
    • ‘Typically, at the end of the lease the money is returned or applied to a purchase price.’
    • ‘The site is held on a long-term lease at a peppercorn rent from the port.’
    • ‘The lease of the premises where the partnership practised was vested in the respondents as trustees for the partnership.’
    • ‘There is an option to renew the lease for a further period when it expires in September of this year.’
    • ‘He recommends negotiating a short-term lease that gives you options to acquire more space as needed.’
    • ‘They signed a five-year lease with an option to renew for five years, the summary said.’
    • ‘Closed-end leases, sometimes called ‘walk-away’ leases, are most common for consumer leases today.’
    • ‘What happens if one of you decides to terminate the lease on short notice?’
    • ‘At first the area was on a pastoral lease granted to Alexander Grant in 1853.’
    • ‘Section 248 assumes that there are some creatures which are pastoral leases which are not exclusive pastoral leases.’
    • ‘Read the lease to find out what's been specified in your case and check out rental laws in your area.’
    • ‘So the mining lease which is granted is in the form of a schedule.’
    • ‘If you're trading in a car, make sure the dealer applies the trade-in value to the price your lease is based on.’
    • ‘Gross irregularity and corruption in granting the mining lease are involved.’
    • ‘While each transaction has individually tailored lease terms, operating leases typically range 3-12 years in length.’
    • ‘Would it have to be a lease in perpetuity?’
    • ‘Businesses negotiating commercial leases of property will not want to assume any technical exposure for any uninsured terrorist risk.’
    leasehold, rental agreement, hire agreement, charter, contract
    View synonyms

verb

[WITH OBJECT]
  • 1Grant (property) on lease; let.

    ‘she leased the site to a local company’
    • ‘Consolidated entitlements are allocated from the National Reserve and cannot be sold or leased for 5 years.’
    • ‘They could lease out the land to their family or someone else, or cultivate it cooperatively with other women.’
    • ‘Many absentee lords leased out their personal lands and the right to collect dues to rich tenant farmers.’
    • ‘He said the building could be leased to one large tenant or several smaller tenants.’
    • ‘The land was leased out for the construction of the hotel in 1970.’
    • ‘Once installed, it will be leased to an operator.’
    • ‘The devastated land included farms leased to tenants by Vermeer's mother-in-law.’
    • ‘In May 1887, it was leased to the CPR and construction began in November.’
    • ‘The trust then leases its property long-term to farmers who use the land to grow food for the community.’
    • ‘The remaining 4,000 square feet of space will be available to lease to other tenants, he said.’
    • ‘Through this process, they would buy and lease back an entire building to its existing occupier.’
    • ‘The rest consists of vast wilderness concession areas which are leased to private safari camp operators.’
    • ‘The city will then lease the track property back to Churchill for $1 a year.’
    rent out, rent, let, let out, hire, hire out, sublet, sublease, farm out, charge for the use of
    View synonyms
    1. 1.1 Take (property) on lease; rent.
      ‘land was leased from the city’
      • ‘He said it was too early to say what other retailers would lease space.’
      • ‘Our flat, above the camel market, was leased from Signora, an old Italian lady who lived downstairs.’
      • ‘It must be a physical good that you have bought and not hired / leased etc.’
      • ‘The van is leased from City of York Council, which is in partnership with the association and is committed to using clean fuel.’
      • ‘Most try to lease or rent their fleets to cut risk and expense.’
      • ‘This year we'll see smaller businesses using telematics services in the cars or trucks that they lease or rent.’
      • ‘Either way those who currently lease the garages will lose their coveted parking spaces.’
      • ‘The bank owns some of the properties it occupies and leases others, and it is unclear whether it will rent or buy the Glasgow property.’
      • ‘The Lease or Buy Calculator is a tool designed to help in deciding whether to lease or buy business equipment.’
      • ‘It has to repackage network capacity leased from established carriers.’
      • ‘He has temporarily leased offices there until a planned move to Huntington next year.’
      • ‘It's a facility we leased from the government, so at some point we had to give it back.’
      • ‘This is the type to use if you are renting or leasing, as the paper can be easily removed when you leave.’
      • ‘There are also programs to help decide whether to rent or lease instead of own.’
      • ‘Police said the unit is leased from a private landlord who lives outside the area and is currently liaising with officers.’
      • ‘Bury Council is leasing the building to the Fusiliers at a peppercorn rent and will be providing an annual funding grant of 30,000.’
      • ‘Keep in mind that most all-in-one office suites can be leased on a month-to-month basis.’
      • ‘It was leased from them by the Herbert family in the sixteenth century.’
      • ‘Two years ago a further 35 acres were leased from the Dean and Chapter of Salisbury cathedral.’
      • ‘The area was first leased from the local community in 1941 by a Dutch investor, who planted coffee.’
      rent, hire, charter, engage, take, borrow, pay for the use of
      View synonyms

Phrases

  • a new lease on life

    • A substantially improved prospect of life or use after rejuvenation or repair.

      • ‘The Committee has been re-formed and given a new lease on life following more than two years of inactivity.’
      • ‘A University of Leicester study could help to provide a new lease of life for patients who have suffered a stroke.’
      • ‘‘It's a satisfying and fulfilling experience - working with the physically and mentally challenged to give them a new lease of life, help them become independent and enable them to lead normal lives,’ she says.’
      • ‘New audio drama and old-time radio dramas find a new lease of life on the Internet.’
      • ‘‘Digital restoration, in fact, gives a new lease of life to priceless old documents on palm leaf, parchment or paper, many even 2,000 years or more in age,’ he says.’
      • ‘This popular event at the Grad House, along with other unique aspects of the atmosphere-soaked hangout, stand to gain a new lease on life.’
      • ‘That's how the art form can gain a new lease of life.’
      • ‘While Australian researchers believe more than one gene is involved, they agree that this will help give the cheap and effective drug a new lease of life.’
      • ‘For engineers who might wonder what happened to that great product they designed years ago, there is now a process by which it can be resurrected and given a new lease of life.’
      • ‘The National Culture Fund - set up to facilitate private and public sector funding into heritage - is all set to get a new lease of life.’

Origin

Late Middle English: from Old French lais, leis, from lesser, laissier ‘let, leave’, from Latin laxare ‘make loose’, from laxus ‘loose, lax’.

Pronunciation

lease

/lis//lēs/