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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 classic literature ?
You will do much better to open the window and let down some bread, a chicken and a bottle of wine to your friend Planchet, who has been this last hour killing himself clapping his hands.
Disko did something to the wheel that checked the schooner's way, while Manuel, with Harvey to help (and a proud boy was Harvey), let down the jib in a lump on the boom.
Five times since I came here has the stone been lifted, but always to let down more, and never to take away.
In less than five minutes they had thus revealed to me their characters, and in less than five minutes I had buckled on a breast-plate of steely indifference, and let down a visor of impassible austerity.
Shearer returns and vows: I can't let down the fans By JEREMY ARMSTRONG and SIMON BIRD NEWCASTLE fans are praying they've found their own Angel of the North as Alan Shearer officially took over as manager at 10pm last night.
They do feel let down by the constant attacks on someone who works hard to make the world better.
I feel that Leinster Council let down Kildare badly in 2006," O'Neill writes in her annual report.
Just ask Joe Canning and countless others who have felt let down and isolated by the lack of action taken towards indiscipline on our own GAA pitches throughout the country.
ROB ANDREW, England's caretaker boss, has warned players will be kicked out of the Elite Squad if found to have let down their country.
And it is in the kitchens that patients have been most seriously let down.
This play has been an extraordinary journey for me, in the role, because the role actually touches on very, very deep emotions of envy, greed - there's lust, there's all those (things), there's religion, there's being let down by God.
Unfortu nately, as is evident from the death of Fleur, there are rare occasions when a person is badly let down.