Lease
/liːs/
Definitions
- (n.) A contractual agreement granting use or occupation of property during a specified period in exchange for rent.
The tenant signed a one-year lease for the apartment.
- (v.) To grant the use or occupation of property under a lease agreement.
The landlord agreed to lease the office space to the new company.
Forms
- leases
- leased
- leasing
Related terms
See also
Commentary
In legal contexts, distinction between a lease and a license is critical; a lease typically conveys property interest while a license is a permission without transfer of interest.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.