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LEASE definition: 1. to make a legal agreement by which money is paid in order to use land, a building, a vehicle, or…. Learn more.
The meaning of LEASE is 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.
Apr 9, 2022 · A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property...
Lease definition: 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..
1. a contract by which one party ( landlord, or lessor) gives to another ( tenant, or lessee) the use and possession of lands, buildings, property, etc. for a specified time and for fixed payments. 2. the period of time for which such a contract is in force. a two-year lease.
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. [1] . Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased.
verb [ T ] uk / liːs / us. to use a building or piece of land, or to allow someone to use a building or piece of land, in exchange for money: We want to lease some office space in the centre of town. They leased the land to a local company.
