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English definition of “leaseback”

leaseback

noun [U] uk   /ˈliːs.bæk/ specialized us  
a legal agreement by which the owner of a building, piece of land, vehicle, etc. allows the previous owner to continue to use it for a regular amount of moneyRenting propertyMortgages and real estateRenting, hiring and hire purchase in general
(Definition of leaseback from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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