n.
a contract by which one party conveys land, property, services, etc. to another for a specified time.
v.
- grant (property) on lease; let.
- take (property) on lease; rent.
Phrase
- a new lease of
(or N. Amer. on)
life
a substantially improved prospect of life or use after rejuvenation or repair.
Derivative
Etymology
ME: from OFr. lais, leis, from lesser, laissier ‘let, leave’, from L. laxare ‘make loose’, from laxus ‘loose, lax’.