Definition, Meaning & Synonyms
lease
noun/verb
lēs
Definition
A lease is a legal agreement that allows one party to use a property owned by another party for a specific period in exchange for payment.
Examples
- She signed a lease for a new apartment.
- The company decided to lease the office equipment instead of buying it.
- The terms of the lease require monthly payments.
Meaning
In simpler terms, leasing means renting a property or equipment. It allows someone to use something without actually owning it by paying rent to the owner.
Synonyms
- rental
- hire
- contract
