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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...
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.
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..
May 31, 2022 · Definition. A lease is a contract between two parties that outlines the terms for renting a property. Learn how a lease works and how it will impact your finances.
noun. /liːs/ Idioms. a legal agreement that allows you to use a building, a piece of equipment or some land for a period of time, usually in return for rent. to take out a lease on a house. The lease expires/runs out next year. Under the terms of the lease, you have to pay maintenance charges. Wordfinder. Collocations Moving house. Extra Examples.
