Lease Agreement: Definition, Examples & Usage

Meaning 1：rental contract (lease agreement)

lease agreement 🔊

/liːs əˈɡriːmənt/

A formal written contract that allows you to use something, like a house or car, for a fixed time in exchange for regular payments.

Lease agreement document with keys and handshake illustration

rental contract 🔊

➕

/ˈrɛntl ˈkɑntrækt/

A legally binding written contract between a lessor (landlord) and a lessee (tenant) that grants the tenant the right to use a property for a specified period in exchange for regular payments.

📁 Category：Laws & Regulations 🔖 Level：intermediate

📘 Details & Usage

📖 Root Explanation

Lease (< Old Fr. laissier 'let go') + agreement (< Old Fr. agrément 'consent')

💡 Mnemonic

Think: 'Lease' means 'let go' of ownership temporarily; sign a paper to borrow property.

📖 Example

Before moving into her first apartment, Mia spent an hour reading the lease agreement to make sure she understood everything. 🔊 Before moving into her first apartment, Mia spent an hour reading the lease agreement to make sure she understood everything.

🔗 Collocations

sign a lease agreement – To formally execute the contract by signature

lease agreement terms – The conditions stipulated in the lease contract

breach of lease agreement – Violation of the terms of the lease contract

🔄 Synonyms

rental contract (n.) – A document specifying rental terms similar to a lease agreement

tenancy agreement (n.) – A legally binding contract between landlord and tenant, often used for residential properties

landlord-tenant agreement (n.) – A general term for any contract governing the use of property in exchange for rent

🚫 Antonyms

purchase agreement (n.) – A contract for buying a property outright, not leasing it

freehold title (n.) – Full ownership of a property without a lease

🌱 Derivatives

leaseholder (n.) – A person who holds a property under a lease agreement

lessee (n.) – The tenant or renter in a lease agreement

lessor (n.) – The landlord or property owner in a lease agreement

📖 Cultural Story

The concept of land leases dates back to medieval English common law, where landlords granted use of land for fixed terms. Today, lease agreements are ubiquitous in real estate and business.