n. 1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. 2. The term or duration of such a contract. tr.v. leased, leas·ing, leas·es Idiom: 1. To grant use or occupation of under the terms of a contract. 2. To get or hold by such a contract. a new lease on life An opportunity to improve one's circumstances or outlook. [Middle English les, from Anglo-Norman, from lesser, to lease, variant of Old French laissier, to let go, from Latin laxāre, to loosen, from laxus, loose; see slēg- in the Appendix of Indo-European roots.] leasa·ble adj. leaser n. |
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