lease
LEES
/liːs/
A legal contract conveying the use of property for a specified time in return for payment.
Refers specifically to a formal, written agreement with fixed terms, distinct from informal renting arrangements.
The story behind the word. From Old French 'laissier' (to let go, release), which stems from Latin 'laxare' (to loosen or slacken). Historically, it meant letting go of a property to someone else for a time.
Word relationships
- rental agreement: A rental agreement is typically short-term (month-to-month), whereas a lease is usually for a longer, fixed period (e.g., one year).
- ownership: The state of possessing a property outright, rather than renting it through a contract.
Commonly confused with
- rent: Rent is the payment made or the act of paying, while lease is the formal contract governing that payment and occupancy.
Word family
- lessee (noun): A person who holds the lease of a property.
- lessor (noun): A person who grants the lease of a property.
Collocations
- sign a lease
- lease agreement
- terminate a lease
- renew a lease
Idioms & expressions
- a new lease on life
Example sentences
- "The lease on the apartment was set to expire at the end of the month, forcing them to make a quick decision." Apartment rental
- "They signed a long-term lease for the downtown office space." Commercial property
Memory hook
You 'lease' a place to 'release' yourself from the burden of buying it. Sign the lease to release the keys.
When not to use
Do not use for casual borrowing of items without a formal contract.
Fun facts
- The idiom 'a new lease on life' originally referred to renewing a property lease to continue living there securely.
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