Lease

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Legal Definition and Related Resources of Lease

Meaning of Lease

A lease, sometimes called a demise , is a conveyance or grant of the possession of land or buildings, for a determinate period of time reserving to the grantor a consideration called rent. See Wilson warehouse Co. of Texas v Maryland Cas. Co., (La. App.)269 So.2d562. The grantor is the lessor and the grantee is the lessee . The estate or interest thus leased should always be less than what the lessor has, otherwise it would be a conveyance or assignment . under common law the interest of the lessee after the grant, but before entry, was called interesse termini . See Interesse termini. A contract of lease must be for a definite period, having a certain beginning and a certain ending. Must also confer exclusive possession on the lessee. A license on the other hand is merely a permit or privilege to do what otherwise would be unlawful upon the lands and tenements of the owner . See American Coin-Meter Colorado Sp Inc., v Poole, 503 P.2d 626, 31 Colo. – 316. The term lease implies the idea of a reversion to the owner of the land after the termination of the term of the lease, also creates a privity of contract and a privity of estate between the lessor and the lessee If a lease at common law is void because it does not conform to some for requirement, nevertheless, if the tenant enters, takes possession and commence pay rent and if both parties by their conduct indicate the existence of a contract, then a relationship between themselves as landlord and tenant will be recognized by law. R land v Cook, 179 Wash. 624, 38 P.2d 224- Under uniform probate Code the word is defined in §1-201(22): Lease includes an oil, gas or other mineral lease.

Lease Alternative Definition

A contract by which a person owning or controlling lands or tenements permits another to occupy the same for a period less than that to which the right of the lessor extends. The person so permitting the occupation of premises is called the lessor; the person contracting for possession is called the lessee. Regarded with respect not to the making of the lease, but of the relation created thereby, the parties are known respectively as landlord and tenant.

Financial Definition of Lease

A long-term rental agreement, and a form of secured long-term debt.

International Trade Meaning and Definition of Lease

A contract in which one party conveys the use of an asset to another party for a specific period of time at a predetermined rate.

Synonyms of Lease

verb

  • allow the use of
  • charter
  • contract for exclusive possession
  • contract for possession of land
  • contract for use and occupation
  • convey for a designated period
  • convey real property for a specified period
  • demise
  • engage
  • engage premises for a designated period
  • grant exclusive possession for a designated period
  • grant use and possession
  • lend on security
  • let
  • let premises for a designated period
  • locare
  • rent
  • rent out
  • sublet
  • subrent
  • Associated Concepts: assignment of a lease
  • cancellation of a lease
  • commencement of a lease
  • extension of a lease
  • forfeiture of a lease
  • joint lease
  • lease at will
  • lease for years
  • lease of premises
  • month to month tenacy
  • perpetual lease
  • renewable lease
  • sublease
  • lenacy
  • tenacy at sufferance
  • tenacy at will
  • term of a lease
  • termination of a lease
  • voidable lease

noun

  • agreement
  • conductio
  • contract
  • contract for exclusive possession of lands
  • contract for possession and profits
  • conveyance in consideration of recompense
  • conveyance of interest in real property
  • conveyance of land for a designated period
  • grant
  • grant of realtygrant of use and possession
  • instrument
  • instrument granting possession of premises
  • legal agreement
  • permission to rent
  • tenantlandlord agreement
  • written agreement
  • Associated Concepts: assignment of lease
  • building lease
  • cancellation of a lease
  • concurrent lease
  • divisible lease
  • forfeiture of lease
  • implied lease
  • let premises
  • longterm lease
  • option to lease
  • parol lease
  • perpetual lease
  • renewal of lease
  • rent
  • sublease
  • term of lease
  • termination of lease
  • voidable lease

Definition of Lease in the Free Online Notary Dictionary

An Agreement Outlining The Relationship Of Landlord And Tenant (lessor And Lessee).

Find similar definitions of the Lease concept in the Notary Dictionary, to be used to allow for comparison of legal terms meanings.

Related Entries of Lease in the Encyclopedia of Law Project

Browse or run a search for Lease in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Lease in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Lease in Historical Law in the Encyclopedia of Law.

For more information about Historical Law definitions, see Historical Definitions in the Encyclopedia of Law. For more information about Historical Law Books and Legal Documents, see Legal Encyclopedia of Historical Books and Documents and Legal Encyclopedia of Books and Documents of the 20th Century.

Legal Abbreviations and Acronyms

Search for legal acronyms and/or abbreviations containing Lease in the Legal Abbreviations and Acronyms Dictionary. The Legal Abbreviations and Acronyms Dictionary entries include explanations of the context of abbreviations or acronyms as well as the direct meaning.

Related Legal Terms

You might be also interested in these legal terms:

Mentioned in these terms

Chattels, Consent-rule, Demise, Ejectment, Emblements, Escalator Clause, Estate, Extend, , Forfeiture, , Holding Over, Inventory, Lease And Release, Leasehold, Lessee, , Quiet Enjoyment, Re-entry, Proviso For, Real Estate, Real Estate Broker, Renew, , Reservation, Reversion, Sublease, Surrender, Tenant, , Tonnage-rent.

Browse

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Resource Description
Lease in the Dictionary Lease in our legal dictionaries
Browse the Legal Thesaurus Find synonyms and related words of Lease
Legal Maxims Maxims are established principles that jurists use as interpretive tools, invoked more frequently in international law
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Related topics Lease in the World Encyclopedia of Law


Notice

This definition of Lease is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

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Sitemap Index Sitemap Index, including Taxonomies
http://legaldictionary.lawin.org/lease/ The URI of Lease (more about URIs)

English Spanish Translation of Lease

Arrendamiento con opción de compra, arrendamiento a largo plazo.

Find other English to Spanish translations from the Pocket Spanish English Legal Dictionary (print and online), the English to Spanish to English dictionaries (like Lease) and the Word reference legal translator.

Resources

See Also

  • Law Dictionaries.
  • Rent Strike; Subletting.
  • Synonyms and Definition Contents

    Cite this entry

    Legal Citations Generator
    (2013, 07). Lease legaldictionary.lawin.org Retrieved 10, 2014, from http://legaldictionary.lawin.org/lease
    "Lease" legaldictionary.lawin.org. 07 2013. 10 2014 <http://legaldictionary.lawin.org/lease>
    "Lease" legaldictionary.lawin.org. legaldictionary.lawin.org, 07 2013. Web. 10 2014. <http://legaldictionary.lawin.org/lease>
    "Lease" legaldictionary.lawin.org. 07, 2013. Accesed 10 2014. http://legaldictionary.lawin.org/lease
    Notary Glossary, 'Lease' (legaldictionary.lawin.org 2013) <http://legaldictionary.lawin.org/lease> accesed 2014 October 21

     

    This entry was last modified: July 18, 2013

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