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1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment.
2. The term or duration of such a contract.
tr.v. leased, leas·ing, leas·esIdiom:
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 laxāre, to loosen, from laxus, loose; see slēg- in Indo-European roots.]