A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset, the lessee obtains the right to use the asset in return for rental payments. The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let or rented out by the owner.
lease v. i. To gather what harvesters have left behind; to glean.
lease v. t. To grant to another by lease the possession of, as of lands, tenements, and hereditaments; to let; to demise; as, a landowner leases a farm to a tenant; -- sometimes with out.
lease v. t. To hold under a lease; to take lease of; as, a tenant leases his land from the owner.
lease v. t. A demise or letting of lands, tenements, or hereditaments to another for life, for a term of years, or at will, or for any less interest than that which the lessor has in the property, usually for a specified rent or compensation.
lease v. t. The contract for such letting.
lease v. t. Any tenure by grant or permission; the time for which such a tenure holds good; allotted time.
lease n. contract which gives another the right to use or inhabit a property for a period of time in exchange for rent; period of time during which a lease is valid; property which is contracted to another
v. rent out property for a specified period of time, let; possess or occupy under the terms of a lease
v. read, view written letters and convert them into words which have meaning; convert written letters into spoken words; understand, comprehend; learn; interpret; take