Meaning of “lease sth back (to sb)” in the English Dictionary

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"lease sth back (to sb)" in Business English

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lease sth back (to sb)

phrasal verb with lease uk /liːs/ us verb [ T ] COMMERCE, LAW

PROPERTY, LAW to sell property or an asset, but continue to use it by paying rent to the new owner:

The company may try to raise cash by selling and leasing back its buildings in London and Hong Kong.

PROPERTY, LAW to buy property or an asset, and allow the seller to continue to use it by paying you rent:

The fund aims to buy the ground's freehold and lease it back to the club for a pound a year.
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(Definition of “lease sth back (to sb)” from the Cambridge Business English Dictionary © Cambridge University Press)