lease1 /lis/USA pronunciation
n., v., leased, leas•ing.
Businessa contract allowing the use of land, renting property, etc., to another for a certain period in exchange for rent or other payment.
the period of time for which a lease is made:a five-year lease.
to grant the temporary possession or use of (lands, property, etc.) to another, usually for compensation at a fixed rate; to let: [~ + object ( + to + object)]to lease one's apartment to a friend.[~ + object + object]We leased him the apartment.[no object]to lease at a lower rate.
[~ + object ( + from + object)] to take or hold by lease:He leased the farm from the sheriff.
leas•er, n. [countable]
- Idiomsa new lease on life, [countable] a chance to improve one's situation or to live longer or more happily:After his heart operation he felt he had a new lease on life.