Lease

A long-term rental agreement, and a form of secured long-term debt. The New York Times Financial Glossary

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I. lease lease 1 [liːs] verb [transitive] COMMERCE
1. if you lease something to someone, you give them the right to use it for a particular period of time in return for payment:
lease somebody something

• The local authority leased him the property.

lease something to somebody

• AT&T leased the building to Sony and said it would find cheaper space elsewhere.

lease something out (to somebody)

• We lease the land out to the forestry people.

2. if you lease something from someone, you pay them to let you use it for a particular period of time:
lease something from somebody

• All its scientific equipment is leased from another company.

— see also sublease, sublet
  [m0] II. lease lease 2 noun [countable] LAW
a legal contract that allows a person or organization to make payments to use something for a particular period of time:

• The initial term of the lease (= the time that it lasts ) is 10 years, with three additional 10-year renewal options.

• The company leases cars to corporate fleets and then sells them when the leases expire (= end ) .

ˈaircraft ˌlease COMMERCE LAW
a lease of planes by an airline:

• The largest portion of the airline's debt load was from off-balance-sheet aircraft leases.

ˈbuilding ˌlease PROPERTY LAW
in Britain, a lease on land where the person or organization leasing it builds buildings and pays rent for the land
ˈcar ˌlease also ˈauto ˌlease LAW COMMERCE
a lease allowing someone to use a car:

• She set up her first car lease business in 2000.

deˌrivative ˈlease
PROPERTY LAW an arrangement in which a person renting a property with a lease arranges another lease on the same property, allowing another person to rent the property from them — compare sublease, sublet
ˈdry ˌlease COMMERCE LAW
a lease where an airline leases aircraft directly from their maker or from a leasing company, rather than from another airline:

• The deal between Croatian Airlines and Airbus includes the dry lease of an A320 model.

eˈquipment ˌlease COMMERCE LAW
a lease for machinery, vehicles etc used by a business:

• The mining company may be unable to pay its rental obligations on $3.8 million in equipment leases.

fiˈnance ˌlease also fiˌnancial ˈlease FINANCE LAW
a lease in which a company obtains land or equipment with a bank buying the assets and leasing them back to the company:

• It has the opportunity to finance these assets by way of rental payments under finance leases rather than by direct acquisition.

ˈoperating ˌlease LAW
a lease allowing a company to use particular equipment:

• An operating lease lasts for a much shorter period of time than the economic life of the asset.

reˈpairing ˌlease PROPERTY LAW
in Britain an arrangement in which the person renting a building is responsible for paying for repairs to it
ˈstore ˌlease COMMERCE LAW
a lease allowing a person or organization to run and operate a shop:

• BizMart agreed to acquire five store leases in Minneapolis from Highland Superstores.

ˈwet ˌlease COMMERCE LAW
a lease in which an airline flies between two countries with aircraft leased from an airline in a third country

* * *

Ⅰ.
lease UK US /liːs/ noun [C] COMMERCE, LAW
an 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(Cf. aircraft lease), BUILDING LEASE(Cf. ↑building lease), DERIVATIVE LEASE(Cf. ↑derivative lease), DRY LEASE(Cf. ↑dry lease), EQUIPMENT LEASE(Cf. ↑equipment lease), FINANCE LEASE(Cf. ↑finance lease), OPERATING LEASE(Cf. ↑operating lease), REPAIRING LEASE(Cf. ↑repairing lease), STORE LEASE(Cf. ↑store lease), WET LEASE(Cf. ↑wet lease) noun
Ⅱ.
lease UK US /liːs/ verb [T] COMMERCE, LAW
to 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(Cf. ↑lessee), SUBLEASE(Cf. ↑sublease) noun, SUBLET(Cf. ↑sublet)
See Note RENT(Cf. ↑rent)

Financial and business terms. 2012.

Synonyms:
(for a term of years)


Look at other dictionaries:

  • lease — 1 / lēs/ n [Anglo French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a: a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment… …   Law dictionary

  • lease — [lēs] n. [ME leas < Anglo Fr les < OFr lais < laissier: see LEASH] 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… …   English World dictionary

  • lease — lease; lease·less; lease·man; re·lease·ment; re·lease; sub·lease; …   English syllables

  • Lease — (l[=e]s), v. t. [imp. & p. p. {Leased}; p. pr. & vb. n. {Leasing}.] [F. laisser, OF. laissier, lessier, to leave, transmit, L. laxare to loose, slacken, from laxus loose, wide. See {Lax}, and cf. {Lesser}.] 1. To grant to another by lease the… …   The Collaborative International Dictionary of English

  • Lease — (l[=e]s), n. [Cf. OF. lais. See {Lease}, v. t.] 1. The temporary transfer of a possession to another person in return for a fee or other valuable consideration paid for the transfer; especially, A demise or letting of lands, tenements, or… …   The Collaborative International Dictionary of English

  • Lease — steht für: einen Vorgang beim Dynamic Host Configuration Protocol ein Rechtsinstitut im common law, siehe Landlord and tenant law Lease ist der Familienname folgender Personen: Rex Lease (1903–1966), US amerikanischer Schauspieler Siehe auch:… …   Deutsch Wikipedia

  • lease — ► NOUN ▪ a contract by which one party conveys land, property, services, etc. to another for a specified time, in return for payment. ► VERB ▪ let or rent on lease. ● a new lease of life Cf. ↑a new lease of life DERIVATIVES leasable ad …   English terms dictionary

  • Lease — (l[=e]z), v. i. [AS. lesan to gather; akin to D. lezen to gather, read, G. lesen, Goth. lisan to gather; cf. Lith lesti to peck.] To gather what harvesters have left behind; to glean. [Obs.] Dryden. [1913 Webster] …   The Collaborative International Dictionary of English

  • lease–up — n: the act or practice of finding or acquiring tenants Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Lease — LEASE, LEASING The manner in which warp threads pass over and under the lease rods, as 1 and 1, 2 and 2, and so on …   Dictionary of the English textile terms

  • Lease — (engl., spr. Lihs), 1) Verpachtung, Pachtgeld; 2) Pachtgeld von Gütern od. Grund u. Boden auf eine gewisse Zeit, um auf 99 Jahre Häuser darauf zu bauen, daher Leaseholder, so v.w. Pächter …   Pierer's Universal-Lexikon

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