lease


lease
a legal contract covering the possession and use of property, plant or equipment between the owner ( lessor) and another person ( lessee) at a given rent, for a stated length of time. Glossary of Business Terms
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A contract providing for the use of property in which one party (the owner, landlord, or lessor) allows another party (the tenant or lessee) to use the property in exchange for value given to the lessor. May cover either real or personal property.
Long-term, noncancelable leases, called capital leases, must be carried on the lessee's balance sheet as liabilities under GAAP. When they are recorded on the lessee's balance sheet, they are said to be capitalized.
Short-term, cancelable leases, sometimes called operating leases, do not have to be capitalized. American Banker Glossary
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A long-term rental agreement , and a form of secured long-term debt. Bloomberg Financial Dictionary

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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

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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 — (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

  • Lease — Lease, Verpachtung einer Eisenbahn, meist auf eine Zeit von 99 oder 999 Jahren, ist eine in den Vereinigten Staaten von Amerika häufig vorkommende Form einer verschleierten Verschmelzung von Eisenbahngesellschaften. Die volle, tatsächliche und… …   Enzyklopädie des Eisenbahnwesens


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