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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 ?
Give him a boombox and a microphone, or just a willing audience of two in a quiet hospital room, and he lets fly an infectious, upbeat sound.
Photo: (color) Broncos quarterback John Elway lets fly in the first quarter at the Oakland Coliseum.
And Dirty Den Watts lets fly with his fists at Tommy after his split from Den's daughter Vicki Watts.