lease (l s)n. 1. a. A contract granting use or occupation of property during a specified period in exchange for a specified rent. b. The term or duration of such a contract. 2. Property used or occupied under the terms of such a contract. v.tr. leased, leas·ing, leas·es Idiom: 1. To grant use or occupation of under the terms of a contract. 2. To get or hold by such a contract. a new lease on life An opportunity to improve one's circumstances or outlook. [Middle English les, from Anglo-Norman, from lesser, to lease, variant of Old French laissier, to let go, from Latin lax  re, to loosen, from laxus, loose; see slg- in Indo-European roots.]leas  a·ble adj.leas er n. |
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