lease

 
Pronunciation: /liːs/

noun

  • a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment: a six-month lease on a shop

verb

[with object]
  • grant (property) on lease; let: she leased the site to a local company
  • take (property) on lease; rent: land was leased from the Duchy of Cornwall

Phrases

a new lease of (or North American on) life

a substantially improved prospect of life or use after rejuvenation or repair: the transplant would give Claire a new lease of life

Derivatives

leasable

adjective

leaser

noun

Origin:

late Middle English: from Old French lais, leis, from lesser, laissier 'let, leave', from Latin laxare 'make loose', from laxus 'loose, lax'