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An agreement between two parties whereby one party allows the other to use his/her property for a certain period of time in exchange for a periodic fee. The property covered in a lease is usually real estate or equipment such as an automobile or machinery. There are two main kinds of leases. A capital lease is long-term and ownership of the asset transfers to the lessee at the end of the lease. An operating lease, on the other hand, is short-term and the lessor retains all rights of ownership at all times.


To rent out.

References in periodicals archive ?
Canon Marilyn Dean, of the diocese of Saskatchewan, who moved the motion of support for Letting Down the Nets called the initiative "too important a piece of work to disappear.
The 21-year-old said: "I'll be trying very hard to beat him but, yes, I am more worried about not letting down my supporters.
Emotive phrases like 'incredible mess' and letting down 'an entire generation of children' are a substitute for rational political discourse.
Geoff Jackson, senior financial development officer in charge of Letting Down the Nets, said he agreed "wholeheartedly" with the contents of the audit.
The dioceses of Western Newfoundland, Nova Scotia and Prince Edward Island, Fredericton, Ottawa, Edmonton and Rupert's Land have been chosen as pilot areas for Letting Down The Nets, an initiative approved by General Synod in 2004 to help churches "improve their financial capacity and resources for ministry and mission at all levels.
Again I can only apologise for this, we feel let down by our partners and ultimately feel we are letting down you too.
Our belief is that there are ways of improving what we do," said Canon Geoff Jackson, senior financial development officer in charge of the national church's Letting Down the Nets stewardship and gift planning initiative.