what is the meaning of lease
lease. n. 1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment. 2. The term or duration of such a contract. tr.v. leased, leasÂ·ing, leasÂ·es. 1. To grant use or occupation of under the terms of a contract. 2. To get or hold by such a contract.