lease

/liːs/ verb [T] COMMERCE, LAW

Definition

› to agree to pay money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time: lease sth (from sb) The firm recently made plans to lease another 8,000 square feet from the property company.

› to make an agreement by which someone pays you money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time: lease sth (out) (to sb) They are keen to lease out the aircraft to private companies.lease sb sth He gave equity to the firms that leased him office equipment. → See also lessee, sublease noun, sublet

→ See Note rent

(Definition of lease verb from the Cambridge Business English Dictionary © Cambridge University Press)