lease legal definition of lease

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lease legal definition of lease

2019-10-06T04:10:24+00:00
  • Lease legal definition of lease

    A contractual agreement by which one party conveys an estate in property to another party, for a limited period, subject to various conditions, in exchange for something of value, but still retains ownership. A lease contract can involve any property that is not illegal to own.

  • Lease Definition of Lease by Merriam-Webster

    Lease definition is - a contract by which one conveys real estate, equipment, or facilities for a specified term and for a specified rent; also : the act of such conveyance or the term for which it is made. How to use lease in a sentence. Synonym Discussion of lease.

  • Lease Agreement legal definition of Lease Agreement

    A contractual agreement by which one party conveys an estate in property to another party, for a limited period, subject to various conditions, in exchange for something of value, but still retains ownership. A lease contract can involve any property that is not illegal to own.

  • What is LEASE? definition of LEASE (Black's Law Dictionary)

    “Lease” or “hire” is a synallagmatic contract, to which consent alone is sufficient, and by which one party gives to the other the enjoyment of a thing, or his labor, at a fixed price. Civil Code La. art. 2669. When the contract is bipartite, the one part is called the “lease,” the other the “counterpart.”

  • Legal Definition of Lease - UpCounsel

    A lease is a contract for the possession and profits of lands and tenements on one side and a recompense of rent or other income on the other or else it is a conveyance of lands and tenements to a person for life or years or at will, in consideration of a return of rent or other recompense.

  • Lease - Legal Dictionary Law

    A lease is distinguished from a mere renting of the premises on a month-to-month basis and cannot exceed a year unless agreed to in writing. A "triple net" lease includes both taxes and insurance...

  • Definition of LEASE • Law Dictionary • TheLaw

    An agreement between two parties regarding the use of property, such as a personal property (car or boat) or real estate (store or apartment.)

  • Lease legal definition of Lease by Law Insider

    Define Lease. means any lease, any sublease or subsublease, license, concession or other agreement (whether written or oral and whether now or hereafter in effect) pursuant to which any Person is granted a possessory interest in, or right to use or occupy all or any portion of any space in any Mortgaged Property, and every modification, amendment or other agreement relating to such lease ...

  • Long-term lease legal definition of Long-term lease by ...

    Long-term lease means any lease of property (real, personal or mixed), other than a Capital Lease, having a term (including terms of renewal or extension at the option of the lessee, whether or not such option has been exercised) expiring more than one year after the commencement of the initial term.

  • Definition of LEASE • Law Dictionary • TheLaw

    Legal definition for LEASE: An agreement between two parties regarding the use of property, such as a personal property (car or boat) or real estate (store or apartment.) It may be oral or written and

  • Lease Definition - Duhaime.org - Learn Law

    The legal definition of Lease is A special kind of contract between a property owner and a person wanting temporary enjoyment and exclusive use of the property, in

  • Commercial Lease Agreement FAQ - Canada

    The lease gives a tenant the right to use certain property for a business or commercial activity for a period of time in exchange for money paid to the landlord. Additionally, the lease outlines the rights and responsibilities of both the landlord and tenant during the lease term. LawDepot provides a written Commercial Lease Agreement.

  • Net Lease Law and Legal Definition USLegal, Inc.

    Net Lease Law and Legal Definition. According to 12 CFR 23.2 [Title 12 -- Banks and Banking; Chapter I -- Comptroller of the Currency, Department of the Treasury; Part 23 – Leasing; Subpart A -- General Provisions], net lease means “a lease under which the national bank will not, directly or indirectly, provide or be obligated to provide for: (1) Servicing, repair, or maintenance of the ...

  • Lease Definition

    2020-09-30  A lease is a legal document outlining the terms under which one party agrees to rent property from another party. Education General Dictionary Economics Corporate Finance Roth

  • Lease Agreement - Definition, Examples, Cases, Processes

    2015-12-21  Definition of Lease Agreement. Noun. A legal contract specifying the terms under which one party agrees to rent property from another party for a specified period of time. What is a Lease Agreement. A lease agreement is a legal contract used when a party conveys land or personal property to another party for a specific amount of time in return for payment. The lease agreement outlines all

  • Bondable Lease Law and Legal Definition USLegal, Inc.

    Bondable Lease Law and Legal Definition A bondable lease is a variant of a triple net lease in which the tenant carries every imaginable real estate risk related to the property. Such risks include the obligations to rebuild after a casualty, regardless of the adequacy of insurance proceeds, and to pay rent after partial or full condemnation.

  • Lease - Legal Dictionary of Law Terminology

    Learn about Lease at legal-dictionary.org. Legal Dictionary of Law Terminology

  • Motor Vehicle Lease Law and Legal Definition USLegal, Inc.

    Motor Vehicle Lease Law and Legal Definition Motor vehicle leasing is based entirely on the concept that you pay for the amount by which a vehicle's value depreciates during the time you're driving it.

  • Lease Agreement - definition of Lease Agreement by The ...

    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.

  • Lease Agreement financial definition of Lease Agreement

    A lease is a legal agreement that provides for the use of something -- typically real estate or equipment -- in exchange for payment. Once a lease is signed, its terms, such as the rent, cannot be changed unless both parties agree. A lease is usually legally binding, which

  • Lease-Purchase Law and Legal Definition USLegal, Inc.

    A lease-purchase agreement is a legally binding commitment to buy the property. It differs from a lease-option, which is merely a right to buy a property, that may be exercised on certain terms. With a lease-option the tenant has the right, but not the obligation, to purchase the property.

  • LEASE meaning in the Cambridge English Dictionary

    an agreement to pay money in order to use land, a building, a vehicle, or a piece of equipment for a particular period of time: The company signed a lease for the property in December. The original tenant remains liable throughout the entire term of the lease. a lease expires/runs out The lease expires in 2026.

  • Lease financial definition of lease

    A lease is a legal agreement that provides for the use of something -- typically real estate or equipment -- in exchange for payment. Once a lease is signed, its terms, such as the rent, cannot be changed unless both parties agree. A lease is usually legally binding, which

  • What is Finance Lease and Operating Lease? definition and ...

    The lease is an agreement wherein the lessor grant rights to the lessee to use lessor’s property in exchange for certain periodic payments. Finance Lease: The Finance Lease or Capital Lease refers to the agreement wherein the lessee gets the ownership of the asset before the lease expires.

  • Lease - Definition, Common Types of Leases, Examples

    A lease is an implied or written agreement specifying the conditions under which a lessor accepts to let out a property to be used by a lessee. The agreement promises the lessee use of the property for an agreed length of time while the owner is assured consistent payment over the agreed period.

  • Lease Definition - Lease Accounting

    Lease Definition Under the new lease accounting standards, ASC 842 and IFRS 16, the way companies define leases changes. Most leases are no longer referenced in footnotes, but reported on the balance sheet. Under ASC 842, leases still need to be classified as operating or finance.

  • Definition of RUNNING LEASE • Law Dictionary • TheLaw

    TheLaw Law Dictionary Black's Law Dictionary 2nd Ed. Where a lease provided that the tenancy should not be confined to any portion of the land granted, but allowed the tenant the use of all the land he could clear, it was called in the old books a “running lease,” as distinguished from one confined to a particular division, circumscribed by metes and bounds, within a larger tract.

  • lease Definition from the Law topic Law

    a lease payment He is struggling to afford the lease payments on the office. phrases the terms of a lease (= the legal details of it) Under the terms of the lease, the tenants have to pay for any repairs. Examples from the Corpus lease • The tenant holds under an agreement for a lease.

  • LEASE meaning in the Cambridge English Dictionary

    lease definition: 1. to make a legal agreement by which money is paid in order to use land, a building, a vehicle, or. Learn more.

  • Long lease - definition of long lease by The Free Dictionary

    Define long lease. long lease synonyms, long lease pronunciation, long lease translation, English dictionary definition of long lease. n a lease, originally for a period of over 21 years, on a whole house of low rent and ratable value, which is the occupants' only or main residence.

  • What is the legal definition of PERPETUAL LEASE ...

    Relevant Legal Terms. LEASE lease, n.1. A contract by which a rightful possessor of real property conveys the right to use and occupy the TRUST trust, n.1. The right, enforceable solely in equity, to the beneficial enjoyment of property to which another person holds the

  • What is Operating Lease? Definition of Operating Lease ...

    Operating lease is a contract wherein the owner, called the Lessor, permits the user, called the Lesse, to use of an asset for a particular period which is shorter than the economic life of the asset without any transfer of ownership rights. The Lessor gives the right to the Lesse in return for regular payments for an agreed period of time. ...

  • IFRS 16 - Definition of a lease l Grant Thornton Insights

    IFRS 16 - Definition of a lease [ 82 kb ] explains the new lease definition and the three key evaluations necessary to determine that the a contract is or contains a lease. Under IFRS 16 a lease is defined as ‘a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration’.

  • Lease Extension Definition

    2019-09-17  A lease extension refers to a legal agreement that extends the term of an existing lease or rental agreement. The lease extension should name the parties involved, the

  • Lease Definition - Lease Accounting

    Lease Definition: The new on-/off-balance sheet test. In this document KPMG reviews how leases will be defined under the new IASB lease accounting standards, IFRS 16. Read More. PwC's Analysing IFRS 16 Leases - 1. Definition of a lease. In this video, Derek Carmichael from PwC discusses how to identify leases under the new IASB leasing standard, IFRS 16. Read More. Subscribe to the Lease ...

  • Lease - Legal Dictionary of Law Terminology

    Learn about Lease at legal-dictionary.org. Legal Dictionary of Law Terminology

  • Difference Between Lease and Rent (with Comparison Chart ...

    2015-11-03  The lease is an agreement between two parties in which one party allows the other party to use and control the asset for a defined period, without actually buying it. It is not exactly same as renting, but a form of it. Renting implies a short-term agreement between the tenant and landlord, whereby the tenant pays rent for the use of asset like land, building, car etc. owned by the landlord.