Meaning of LEASE in English
I. lease 1 /liːs/ BrE AmE noun [countable]
1 . a legal agreement which allows you to use a building, car etc for a period of time, in return for rent
They took out a lease on a seven-acre field.
The landlord refused to renew his lease.
The 99-year lease expired in 1999.
Do you understand all the terms of the lease?
2 . a new lease of life especially British English , a new lease on life American English
a) if something has a new lease of life, it is changed or repaired so that it can continue:
Historic buildings can have a new lease of life through conversion.
b) if someone has a new lease of life, they become healthy, active, or happy again after being weak, ill, or tired:
an operation to give her a new lease of life
• • •
▪ have/hold a lease
Who has the lease on the flat?
▪ take (out) a lease (=start having a lease)
He took a seven-year lease on the place.
▪ renew a lease (=keep a lease for a longer period of time)
The company decided not to renew the lease on the office.
▪ grant somebody a lease (=let someone have a lease)
The landlord may grant a lease for a short or long period.
▪ sign a lease (=agree to the legal details of a lease by signing it)
He refused to sign the new lease because the rent was too high.
▪ a lease runs (=continues for a period of time)
The lease will run for 21 years.
▪ a lease runs out ( also a lease expires formal ) (=it stops)
Their lease runs out in June.
▪ a short/short-term lease
These flats are let on short leases to students.
▪ a long/long-term lease
We’re negotiating a long-term lease on the building.
▪ a 20/30/40 etc year lease
The company has acquired the building on a 30-year lease.
▪ the current/existing lease
The current lease still has 12 years to run.
■ lease + NOUN
▪ a lease agreement
The organization has signed a lease agreement on a 50-acre site.
▪ a lease payment
He is struggling to afford the lease payments on the office.
▪ the terms of a lease (=the legal details of it)
Under the terms of the lease, the tenants have to pay for any repairs.
II. lease 2 BrE AmE verb [transitive]
[ Date: 1300-1400 ; Language: Anglo-French ; Origin: lesser , from Old French laissier 'to let go' , from Latin laxare ; ⇨ ↑ laxative ]
1 . to use a building, car etc under a lease:
I’m interested in leasing your cottage.
lease something from somebody
They lease the site from the council.
2 . ( also lease out ) to let someone use a building, car etc under a lease
lease something to somebody
The building was leased to a health club.
• • •
■ to pay money to use something
▪ rent to pay money to use a house, room, vehicle, piece of equipment, area of land etc:
He rented a room in a house on the Old Kent Road.
They flew out to New York and rented a car at the airport.
▪ hire British English to pay money to use a car or a piece of clothing or equipment for a short period of time:
Why don't we hire a van for the day?
You can hire suits for weddings.
▪ lease to have a legal agreement under which you pay money to a person or company in order to use a building, area of land, vehicle, piece of equipment etc for a fixed period of time :
They leased the offices from an American company.
The car is leased from BMW.
Longman Dictionary of Contemporary English. Longman - Словарь современного английского языка. 2012