Lease Definition, Usage & Common Examples

Meaning 1：rental agreement (lease)

lease 🔊

/liːs/

An official agreement that lets you use something, like a home, land or a car, for a fixed time in exchange for regular payments.

Lease agreement illustration showing a person holding keys and a legal document for a rental property.

rental agreement 🔊

➕

/ˈrɛntl əˈɡriːmənt/

A formal contract that grants the right to use property, such as a home or vehicle, for a specified period in exchange for regular payments.

📁 Category：Laws & Regulations 🔖 Level：Intermediate

📘 Details & Usage

📖 Root Explanation

From Latin 'laxare' (to loosen), via Old French 'les' (to let).

💡 Mnemonic

Think 'lease' rhymes with 'peace' – a lease brings peace of mind for temporary use.

📖 Example

We just signed a one-year lease for a lovely apartment near the park. 🔊 We just signed a one-year lease for a lovely apartment near the park.

🔗 Collocations

sign a lease – to formally agree to a lease by signing the document

break a lease – to terminate a lease agreement before its scheduled end

lease agreement – the legal document detailing the terms of a lease

🔄 Synonyms

rental agreement (n.) – a contract for renting property or equipment

contract (n.) – a binding agreement between parties, often written

tenancy (n.) – the possession or occupancy of property under a lease

🚫 Antonyms

purchase (n.) – the act of buying something outright for permanent ownership

freehold (n.) – ownership of property without time limitations

🌱 Derivatives

leasehold (n.) – the holding of property under a lease

lessee (n.) – a person who holds a lease; the tenant

lessor (n.) – a person who grants a lease; the landlord

📖 Cultural Story

The term 'lease' stems from Latin 'laxare', meaning 'to loosen' or 'to release', reflecting the temporary transfer of property rights. It entered English through Old French in medieval legal contexts, commonly used in property and commercial agreements.