Definition of Lease
Lease
lease
Definition/Meaning
(noun)
an official contract or agreement between a tenant and property owner specifying the rules and responsibilities of each party;
e.g. Your lease contains in it the amount of time you initially plan to stay in the residence.
(verb)
to borrow or grant something on lease;
e.g. The dealership leased the car to us for 2 years.
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