lease1

[lees] /lis/
noun
1.
a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period or for a period determinable at the will of either lessor or lessee in consideration of rent or other compensation.
2.
the property leased.
3.
the period of time for which a lease is made:
a five-year lease.
verb (used with object), leased, leasing.
4.
to grant the temporary possession or use of (lands, tenements, etc.) to another, usually for compensation at a fixed rate; let:
She plans to lease her apartment to a friend.
5.
to take or hold by lease:
He leased the farm from the sheriff.
verb (used without object), leased, leasing.
6.
to grant a lease; let or rent:
to lease at a lower rental.
Idioms
7.
a new lease on life, a chance to improve one's situation or to live longer or more happily:
Plastic surgery gave him a new lease on life.
Origin
1350-1400; Middle English les < Anglo-French (equivalent to Old French lais, French legs legacy), noun derivative of lesser to lease, literally, let go (equivalent to Old French laissier) < Latin laxāre to release, let go. See lax
Related forms
leasable, adjective
leaseless, adjective
leaser, noun
unleasable, adjective
unleased, adjective
well-leased, adjective
Synonyms
5. rent, charter, hire.

lease2

[lees] /lis/
noun, Textiles.
1.
a system for keeping the warp in position and under control by alternately crossing the warp yarn over and under the lease rods.
2.
the order of drawing in the warp ends.
Origin
1350-1400; Middle English lese length or coil of thread, variant of lesh leash
Examples from the web for lease
  • When you buy something, sell it then rent it back from whom you sold it so as to lease to the owner who ever it may be.
  • We will never sell, lease, rent or give your e-mail address or other personal information to anyone else without your permission.
  • The new owners will have the option to take over the lease, but they won't move the system to a new residence.
  • Sale-and-lease-back deals, where a firm sells property and pays rent to occupy it, generate piles of cash.
  • But it is unclear whether the resumption of lease sales will affect the rate of oil production in the gulf or improve relations.
  • People can't seem to get enough of vampires lately, and zombies have a new lease on life.
  • Host governments usually claim that the land they are offering for sale or lease is vacant or owned by the state.
  • As an organization, the garden may opt to purchase or obtain a long-term lease of the land.
  • After a set term the lease is again open to bidding, in case someone else thinks they can find something.
  • He will lease the batteries to car owners, and sell access to his switching and charging network.
British Dictionary definitions for lease

lease1

/liːs/
noun
1.
a contract by which property is conveyed to a person for a specified period, usually for rent
2.
the instrument by which such property is conveyed
3.
the period of time for which it is conveyed
4.
a prospect of renewed health, happiness, etc: a new lease of life
verb (transitive)
5.
to grant possession of (land, buildings, etc) by lease
6.
to take a lease of (property); hold under a lease
Derived Forms
leasable, adjective
leaser, noun
Word Origin
C15: via Anglo-French from Old French lais (n), from laissier to let go, from Latin laxāre to loosen

lease2

/liːz/
noun
1.
(dialect) open pasture or common
Word Origin
Old English lǣs; perhaps related to Old Norse lāth property
Word Origin and History for lease
n.

late 14c., "legal contract conveying property, usually for a fixed period of time and with a fixed compensation," from Anglo-French les (late 13c.), from lesser "to let, let go," from Old French laissier "to let, allow, permit; bequeath, leave," from Latin laxare "loosen, open, make wide," from laxus "loose" (see lax). Modern French equivalent legs is altered by erroneous derivation from Latin legatum "bequest, legacy."

v.

late 15c., "to take a lease," from Anglo-French lesser, Old French laissier "to let, leave" (see lease (n.). Related: Leased; leasing. Lessor, lessee in contract language preserves the Anglo-French form.

lease in Culture

lease definition


A contract that grants possession of property for a specified period of time in return for some kind of compensation.

Idioms and Phrases with lease

lease

see: new lease on life
Encyclopedia Article for lease

a contract for the exclusive possession of property (usually but not necessarily land or buildings) for a determinate period or at will. The person making the grant is called the lessor, and the person receiving the grant is called the lessee. Two important requirements for a lease are that the lessee have exclusive possession (nonexclusive possession would call for a license) and that the lessor's term of interest in the property be longer than the term of the lease (a grant involving an equal term or period would comprise a conveyance or assignment, not a lease).

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