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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 ?
Brady Udall's collection of short stories a few years back, Letting Loose the Hounds, made a satisfying stir with its young male narrators making their way along the less glamorous edges of the American West.
Fired-up Margo was letting loose at the party leader and those closest to him.
A pair of seismologists now reports finding evidence that some large earthquakes start off slowly, building up for several minutes before letting loose violent vibrations.