American English

Definition of lease noun from the Oxford Advanced American Dictionary



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  • a legal agreement that allows you to use a car, a building, a piece of equipment, or some land for a period of time, usually in return for a regular payment to sign a lease on an apartment The lease expires/runs out next year. Under the terms of the lease, you have to pay maintenance charges.
  • Idioms
    a (new) lease on life
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    the chance to live or last longer, or with a better quality of life Since her hip operation she has a new lease on life.
    See the Oxford Advanced Learner's Dictionary entry: lease

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