lease

lease definition - business

lease

An agreement that permits one party (the lessee) to use property owned by another party (the lessor). The lease, which may be written either for a short term or for a long term, often results in tax benefits to both parties. Also called equipment lease. See also capital lease, graduated lease, gross lease, leveraged lease, net lease, open-end lease, operating lease, put 31, subvented lease.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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