lease
noun [ C ]
COMMERCE, LAW uk/liːs/ usan agreement to pay money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time:
The company signed a lease for the property in December.
The original tenant remains liable throughout the entire term of the lease.
a lease expires/runs out The lease expires in 2026.
a 10-/20-/30-year lease The company is trying to extend its 30-year lease (with 24 years left to run).
a lease agreement/contract/payment
a long-term/short-term lease
See also
aircraft lease
building lease
derivative lease
dry lease
equipment lease
finance lease
operating lease
repairing lease
store lease
wet lease noun
lease
verb [ T ]
COMMERCE, LAW uk/liːs/ usto agree to pay money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time:
lease sth (from sb) The firm recently made plans to lease another 8,000 square feet from the property company.
to make an agreement by which someone pays you money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time:
lease sth (out) (to sb) They are keen to lease out the aircraft to private companies.
lease sb sth He gave equity to the firms that leased him office equipment.
See also
lessee
sublease noun
sublet
Phrasal verb
lease sth back (to sb)