Lease definition: Copy, customize, and use instantly
Introduction
The term "Lease" refers to a contractual agreement where one party (the lessor) allows another party (the lessee) to use property or equipment for a specified period in exchange for payment. It is essential for establishing the rights and obligations of both parties, specifying the terms of use, rental amounts, and duration.
Below are various examples of how "Lease" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Lease" as Property Agreement
This definition ties "Lease" to an agreement related to real property.
"Lease" refers to the contract under which the lessor grants the lessee the right to use a property, such as residential or commercial real estate, for a specified term in exchange for periodic payments.
Definition of "Lease" as Equipment Rental
This definition connects "Lease" to the rental of equipment.
"Lease" means an agreement in which the lessor provides equipment, such as machinery or vehicles, to the lessee for a predetermined period, with the lessee agreeing to pay rent for its use.
Definition of "Lease" as Short-Term Agreement
This definition links "Lease" to a short-term rental arrangement.
"Lease" refers to a short-term agreement where the lessee rents a property or asset from the lessor for a period typically not exceeding one year, with the option for renewal or termination at the end of the lease term.
Definition of "Lease" as Commercial Property Lease
This definition applies "Lease" to commercial properties.
"Lease" means the contract between the lessor and lessee for the rental of commercial property, such as office spaces or retail locations, specifying rent, term, and conditions of use.
Definition of "Lease" as Residential Property Lease
This definition connects "Lease" to residential property rental.
"Lease" refers to a legal agreement between a landlord and tenant granting the tenant the right to occupy residential premises for a specified period in exchange for agreed-upon rent.
Definition of "Lease" as Auto Lease Agreement
This definition links "Lease" to the leasing of vehicles.
"Lease" means an agreement in which a lessor grants the lessee the right to use a vehicle for a specific term, with the lessee agreeing to monthly payments and potentially the option to purchase the vehicle at the end of the lease term.
Definition of "Lease" as Fixed-Term Agreement
This definition ties "Lease" to a fixed-term contract.
"Lease" refers to a contract in which the lessee is granted the use of property or equipment for a fixed duration, typically with a defined start and end date, and periodic payments due to the lessor during the term.
Definition of "Lease" as Lease-to-Own Option
This definition connects "Lease" to a lease-to-own arrangement.
"Lease" refers to an agreement where the lessee rents an asset with an option to purchase it at the end of the lease term, with part of the lease payments potentially contributing toward the purchase price.
Definition of "Lease" as Sublease Agreement
This definition links "Lease" to a sublease arrangement.
"Lease" means a contract that allows the lessee to lease all or part of the property they are renting from the lessor to a third party, while maintaining responsibility for the lease obligations.
Definition of "Lease" as Operating Lease
This definition applies "Lease" to an operating lease scenario.
"Lease" refers to an operating lease where the lessee rents property or equipment for a short-term period, with the lessor retaining ownership and responsibility for maintenance, insurance, and repairs.
Definition of "Lease" as Financial Lease
This definition connects "Lease" to a financial or capital lease.
"Lease" means a lease agreement where the lessee assumes most of the risks and benefits of ownership of the leased property, typically including an option to purchase the asset at the end of the lease term.
Definition of "Lease" as Rent-to-Own Agreement
This definition links "Lease" to a rent-to-own agreement.
"Lease" refers to a contract under which the lessee rents property or equipment with the intent of eventually purchasing the asset, with lease payments being credited toward the final purchase price.
Definition of "Lease" as Lease with Early Termination Clause
This definition ties "Lease" to early termination provisions.
"Lease" refers to a contract that grants the lessee the right to occupy property or use equipment for a specified period, with the option to terminate the lease early under agreed-upon conditions and penalties.
Definition of "Lease" as Triple Net Lease
This definition connects "Lease" to a triple net lease agreement.
"Lease" means a lease agreement in which the lessee agrees to pay not only rent but also additional costs, including property taxes, insurance, and maintenance of the leased property.
Definition of "Lease" as Gross Lease
This definition links "Lease" to a gross lease arrangement.
"Lease" refers to a contract in which the lessor is responsible for paying most or all of the property-related expenses, such as taxes, insurance, and maintenance, while the lessee pays a fixed rent amount.
Definition of "Lease" as Lease with Purchase Option
This definition ties "Lease" to an agreement with an option to purchase.
"Lease" refers to a rental agreement where the lessee has the right, but not the obligation, to purchase the leased property or asset at the end of the lease term for an agreed-upon price.
Definition of "Lease" as Commercial Real Estate Lease
This definition connects "Lease" to commercial real estate rental.
"Lease" means a contract for the rental of commercial real estate, outlining terms such as rent, lease duration, maintenance responsibilities, and allowable use of the space.
Definition of "Lease" as Leased Equipment Agreement
This definition links "Lease" to leased equipment agreements.
"Lease" refers to a contract where one party (the lessor) provides equipment to the lessee for use over a specified term, typically with terms covering maintenance, payments, and return conditions.
Definition of "Lease" as Lease Renewal Option
This definition ties "Lease" to lease renewal provisions.
"Lease" refers to an agreement with a clause that allows the lessee the option to renew the lease for an additional term, under specified terms and conditions, typically at the discretion of the lessee.
Definition of "Lease" as Rent Agreement
This definition ties "Lease" to a rent agreement.
"Lease" refers to a legal contract where the lessor agrees to allow the lessee to occupy a property or use equipment for a set period in exchange for periodic rent payments.
Definition of "Lease" as Equipment Leasing
This definition connects "Lease" to the leasing of equipment.
"Lease" refers to an agreement in which the lessee rents specific equipment, such as machinery or electronics, from the lessor for a designated time frame in exchange for rent payments.
Definition of "Lease" as Office Space Lease
This definition links "Lease" to office space rental.
"Lease" means a contract between a landlord and tenant for renting office space, with terms outlining the rental price, duration, and responsibilities for maintenance and repairs.
Definition of "Lease" as Industrial Property Lease
This definition ties "Lease" to industrial property rental.
"Lease" refers to the agreement where the lessor rents out industrial property, such as warehouses or manufacturing facilities, to the lessee for a specified period in exchange for rent.
Definition of "Lease" as Residential Rent Agreement
This definition connects "Lease" to residential rent.
"Lease" refers to a rental agreement for a residential property, detailing the term of the lease, rent amount, and obligations of both the lessor and the lessee.
Definition of "Lease" as Lease with Buyout Option
This definition links "Lease" to a buyout option.
"Lease" refers to an agreement where the lessee has the right to purchase the leased property or asset at the end of the term, typically at a predefined buyout price.
Definition of "Lease" as Capital Lease
This definition ties "Lease" to a capital lease arrangement.
"Lease" means a lease agreement where the lessee essentially assumes ownership of the asset by the end of the lease term, with the lessee taking responsibility for most costs associated with the asset.
Definition of "Lease" as Commercial Vehicle Lease
This definition connects "Lease" to vehicle rental.
"Lease" refers to an agreement in which the lessor leases commercial vehicles, such as trucks or vans, to the lessee for a specific period, outlining payment terms and maintenance responsibilities.
Definition of "Lease" as Land Lease
This definition links "Lease" to land rental.
"Lease" refers to a contract where a lessor rents land to the lessee for a designated period, typically with terms outlining its use, such as for farming or construction purposes.
Definition of "Lease" as Lease of Intellectual Property
This definition ties "Lease" to intellectual property rights.
"Lease" refers to a contract where the lessor grants the lessee the right to use intellectual property, such as patents or trademarks, for a specified period in exchange for royalty payments.
Definition of "Lease" as Subletting Agreement
This definition connects "Lease" to a subletting arrangement.
"Lease" refers to an agreement where the original lessee rents the leased property to a third party, maintaining overall responsibility to the lessor.
Definition of "Lease" as Rent-to-Own Lease
This definition links "Lease" to rent-to-own agreements.
"Lease" means a rental agreement where the lessee rents property or equipment with an option to purchase it at the end of the lease term, with some of the payments applied toward the purchase price.
Definition of "Lease" as Lease with Option to Renew
This definition ties "Lease" to lease renewal options.
"Lease" refers to a rental agreement that includes a provision allowing the lessee to extend the lease term for an additional period under predetermined terms, at the discretion of the lessee.
Definition of "Lease" as Modified Gross Lease
This definition connects "Lease" to modified gross leases.
"Lease" refers to a lease agreement where the lessor is responsible for certain costs, such as taxes and maintenance, while the lessee covers other operating expenses, including utilities or insurance.
Definition of "Lease" as Lease of Artwork
This definition links "Lease" to artwork rental.
"Lease" refers to an agreement where the lessee rents an artwork from the lessor for a specified time, with terms defining the rental fee and the responsibilities for care and display.
Definition of "Lease" as Equipment Finance Lease
This definition ties "Lease" to equipment financing.
"Lease" refers to an agreement where the lessee rents equipment and is responsible for financing the asset over the lease term, with the option to purchase it at the end of the term.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.