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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.
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To rent out.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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." Sue Moxley, suffragan bishop of Nova Scotia and Prince Edward Island, seconded the motion, stating that expertise from the program "was essential to get us going on stewardship." Hers was among six dioceses where pilot projects for Letting Down the Nets were set up.
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 BBC has been blasted for letting down licence fee payers over its management of three major building projects.
WORLD champion Zersenay Tadese is more worried about letting down his fans than the threat from Kenenisa Bekele in today's BUPA Great Edinburgh International Cross Country.
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."