LEASE
Lease, n. Etym: [Cf. OF. lais. See Lease, v. t.]
1. A demise or letting of lands, tenements, or hereditaments to another for life, for a term of years, or at will, or for any less interest than that which the lessor has in the property, usually for a specified rent or compensation.
2. The contract for such letting.
3. Any tenure by grant or permission; the time for which such a tenure holds good; allotted time. Our high-placed Macbeth Shall live the lease of nature. Shak. Lease and release a mode of conveyance of freehold estates, formerly common in England and in New York. its place is now supplied by a simple deed of grant. Burrill. Warren's Blackstone.
LEASEHOLD
Lease"hold`, a.
Defn: Held by lease.
LEASEHOLD
Lease"hold`, n.
Defn: A tenure by lease; specifically, land held as personalty under a lease for years.
LEASEHOLDER
Lease"hold`er, n.
Defn: A tenant under a lease.
— Lease"hold`ing, a. & n.