demise
noun [ C or U ]
PROPERTY, LAW uk/dɪˈmaɪz/ usproperty that you rent or give to someone for a particular number of years, or a legal agreement in which you rent or give this property:
In a mortgage by demise, the lender becomes the owner of the mortgaged property until the loan is repaid.
demise
verb [ T ]
PROPERTY, LAW uk/dɪˈmaɪz/ usto rent or give property to someone for a particular number of years:
If an apartment is rented under a written lease, it is referred to in the lease as the "demised premises".