Lease - Meaning, Definition & English Examples
A lease is a legal agreement where one party rents property, such as land, a vehicle, or equipment, from another for a specified period in exchange for payment.
Definition:
A contract granting use of property for a specified time in exchange for payment.
Synonyms:
rent, charter, let, hire
Part of Speech:
noun, verb
Antonyms:
buy, own
Common Collocations:
lease agreement, lease term, sign a lease, break a lease, renew a lease
Derivatives:
lessee, lessor, leasing
Usage Tips:
Use "lease" for temporary property agreements; "rent" is more general but often interchangeable in casual contexts.
Common Phrases:
lease of life, new lease on life, take out a lease
Etymology:
From Old French "laissier," meaning "to let go," derived from Latin "laxare," meaning "to loosen."
Examples:
- 1. She signed a one-year lease for the apartment.
- 2. The company decided to lease office space downtown.
- 3. Their car lease expires next month.
- 4. He wants to lease the equipment instead of buying it.