Definition of "lease" []

• A contract granting use or occupation of property during a specified period in exchange for a specified rent. (noun)
• The term or duration of such a contract. (noun)
• Property used or occupied under the terms of such a contract. (noun)
• To grant use or occupation of under the terms of a contract. (verb-transitive)
• To get or hold by such a contract. (verb-transitive)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "I have the honour to state that the term lease by negotiation contained in Article 2 of the Treaty respecting South Manchuria and Eastern Inner Mongolia signed this day shall be understood to imply a long-term lease of not more than thirty years and also the possibility of its unconditional renewal."
• "We are also looking at our financing leases and under our financing lease that would have some what the same effect where we would be able to record the revenue that we wouldn't be receiving the cash immediately, we would be paid over whatever the term lease may be."
• "And, of course, a tenant does not occupy the property merely until “the owner decides to revoke that use” unless his lease is at will (which is uncommon in this day and age)."