[lees] /lis/

a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period or for a period determinable at the will of either or in consideration of rent or other compensation.
the property leased.
the period of time for which a lease is made:
a five-year lease.
verb (used with object), leased, leasing.
to grant the temporary possession or use of (lands, tenements, etc.) to another, usually for compensation at a fixed rate; let:
She plans to lease her apartment to a friend.
to take or hold by lease:
He leased the farm from the sheriff.
verb (used without object), leased, leasing.
to grant a lease; let or rent:
to lease at a lower rental.
a new lease on life, a chance to improve one’s situation or to live longer or more happily:
Plastic surgery gave him a new lease on life.
a contract by which property is conveyed to a person for a specified period, usually for rent
the instrument by which such property is conveyed
the period of time for which it is conveyed
a prospect of renewed health, happiness, etc: a new lease of life
verb (transitive)
to grant possession of (land, buildings, etc) by lease
to take a lease of (property); hold under a lease
(dialect) open pasture or common

late 14c., “legal contract conveying property, usually for a fixed period of time and with a fixed compensation,” from Anglo-French les (late 13c.), from lesser “to let, let go,” from Old French laissier “to let, allow, permit; bequeath, leave,” from Latin laxare “loosen, open, make wide,” from laxus “loose” (see lax). Modern French equivalent legs is altered by erroneous derivation from Latin legatum “bequest, legacy.”

late 15c., “to take a lease,” from Anglo-French lesser, Old French laissier “to let, leave” (see lease (n.). Related: Leased; leasing. Lessor, lessee in contract language preserves the Anglo-French form.

A contract that grants possession of property for a specified period of time in return for some kind of compensation.
see: new lease on life


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