Dictionary
Financial Glossary
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 Lease
A long-term rental agreement, and a form of secured long-term debt.
An agreement in which one party gains a long-term rental agreement, and the other party receives a form of secured long-term debt.
n. Contract by which the owner of property allows another to use it for a specified time, usu. in return for payment. —v. (-sing) grant or take on lease. New lease of (US on) life improved prospect of living, or of use after repair. [Anglo-French lesser let, from Latin laxo loosen]. The grant of an interest in leasehold land (see below at Leasehold Land). It must give exclusive possession of the land and be for a fixed term. To be a legal lease it must be created by deed, unless it is for less than three years, take effect on possession (i.e. start immediately), and be for the best rent obtainable without taking a premium. A lease that is not a legal lease may, however, be valid in equity as an agreement for a lease. This must be registered or any rights under it may be lost on the sale of the freehold or of a superior lease. A lease generally constitutes a bargain between the landlord and tenant, containing rights and obligations on both sides. It may come to an end on the expiry of the term; alternatively it may be ended earlier, by the tenant surrendering it to the landlord or by the landlord ending it for the breach of some condition (e.g. failure to pay the rent or leaving the premises in disrepair). A lease may be assigned to someone else; for example, a leasehold flat may be sold for a capital sum. The new tenant will then take over the responsibilities under the lease. A repairing lease is one in which the tenant is obliged to pay for all repairs and is usually bound to leave the property at the end of his lease in the same condition as he found it at the start of the lease.
A contract in which the legal owner of property or other asset agrees to another person using that property or asset in return for a regular specified payment (known as rent) over a set term. In addition to buildings, other items such as cars and computers are often leased in order to avoid capital costs in the running of a business.
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Glossary 
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Lease - A long-term rental agreement, and a form of secured long-term debt.
An agreement in which one party gains a long-term rental agreement, and the other party receives a form of secured long-term debt.
n. Contract by which the owner of property allows another to use it for a specified time, usu. in return for payment. —v. (-sing) grant or take on lease. New lease of (US on) life improved prospect of living, or of use after repair. [Anglo-French lesser let, from Latin laxo loosen]. The grant of an interest in leasehold land (see below at Leasehold Land). It must give exclusive possession of the land and be for a fixed term. To be a legal lease it must be created by deed, unless it is for less than three years, take effect on possession (i.e. start immediately), and be for the best rent obtainable without taking a premium. A lease that is not a legal lease may, however, be valid in equity as an agreement for a lease. This must be registered or any rights under it may be lost on the sale of the freehold or of a superior lease. A lease generally constitutes a bargain between the landlord and tenant, containing rights and obligations on both sides. It may come to an end on the expiry of the term; alternatively it may be ended earlier, by the tenant surrendering it to the landlord or by the landlord ending it for the breach of some condition (e.g. failure to pay the rent or leaving the premises in disrepair). A lease may be assigned to someone else; for example, a leasehold flat may be sold for a capital sum. The new tenant will then take over the responsibilities under the lease. A repairing lease is one in which the tenant is obliged to pay for all repairs and is usually bound to leave the property at the end of his lease in the same condition as he found it at the start of the lease.
A contract in which the legal owner of property or other asset agrees to another person using that property or asset in return for a regular specified payment (known as rent) over a set term. In addition to buildings, other items such as cars and computers are often leased in order to avoid capital costs in the running of a business.
Lease : a long-term rental agreement, and a form of secured long-term debt.
an agreement in which one party gains a long-term rental agreement, and the other party receives a form of secured long-term debt.
n. contract by which the owner of property allows another to use it for a specified time, usu. in return for payment. —v. (-sing) grant or take on lease. new lease of (us on) life improved prospect of living, or of use after repair. [anglo-french lesser let, from latin laxo loosen]. the grant of an interest in leasehold land (see below at leasehold land). it must give exclusive possession of the land and be for a fixed term. to be a legal lease it must be created by deed, unless it is for less than three years, take effect on possession (i.e. start immediately), and be for the best rent obtainable without taking a premium. a lease that is not a legal lease may, however, be valid in equity as an agreement for a lease. this must be registered or any rights under it may be lost on the sale of the freehold or of a superior lease. a lease generally constitutes a bargain between the landlord and tenant, containing rights and obligations on both sides. it may come to an end on the expiry of the term; alternatively it may be ended earlier, by the tenant surrendering it to the landlord or by the landlord ending it for the breach of some condition (e.g. failure to pay the rent or leaving the premises in disrepair). a lease may be assigned to someone else; for example, a leasehold flat may be sold for a capital sum. the new tenant will then take over the responsibilities under the lease. a repairing lease is one in which the tenant is obliged to pay for all repairs and is usually bound to leave the property at the end of his lease in the same condition as he found it at the start of the lease.
a contract in which the legal owner of property or other asset agrees to another person using that property or asset in return for a regular specified payment (known as rent) over a set term. in addition to buildings, other items such as cars and computers are often leased in order to avoid capital costs in the running of a business.
