LEASES Meaning and
Definition
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Leases, in its noun form, refers to legal agreements or contracts that grant individuals or organizations the right to use a particular property or asset in exchange for rent or periodic payments. It is a contractual arrangement between the owner of the property, often known as the lessor or landlord, and the tenant or lessee.
Leases typically outline various terms and conditions that govern the use of the property, including the duration of the agreement, the rental amount or payment terms, and any specific restrictions or provisions regarding its usage. These agreements can pertain to a variety of assets and properties, such as land, buildings, vehicles, or equipment.
The purpose of a lease is to establish a mutual understanding and protect the interests of both parties involved, ensuring that the rights and obligations of the lessor and lessee are clearly defined. The lessee gains the temporary use and possession of the property, while the lessor receives rental income and retains ownership.
Leases are often used in real estate transactions, allowing individuals or businesses to rent residential or commercial properties for a predetermined period. Additionally, leasing arrangements are utilized in other industries to enable the temporary use of equipment or vehicles, providing flexibility and cost savings compared to purchasing outright.
Overall, leases serve as vital legal instruments that facilitate the rental and temporary use of assets, providing a framework for the relationship between lessors and lessees.
Top Common Misspellings for LEASES *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for LEASES
Etymology of LEASES
The word "leases" has its etymological roots in the Old French term "les", which meant a contract or a promise of payment. This Old French word can be traced back to the Latin word "laxare", which means to loosen or release. Over time, the word "leases" has evolved to specifically refer to contractual agreements for the use of property or assets.
Similar spelling words for LEASES
- Lenses,
- laces,
- Leaves,
- lexis,
- eases,
- leashes,
- lesage,
- teases,
- louses,
- leased,
- ceases,
- lessig,
- legacy,
- lease,
- loses,
- looses,
- Leo Esaki,
- pleases.
Conjugate verb Leases
CONDITIONAL
I
would lease
we
would lease
you
would lease
he/she/it
would lease
they
would lease
FUTURE
I
will lease
we
will lease
you
will lease
he/she/it
will lease
they
will lease
FUTURE PERFECT
I
will have leased
we
will have leased
you
will have leased
he/she/it
will have leased
they
will have leased
PAST
I
leased
we
leased
you
leased
he/she/it
leased
they
leased
PAST PERFECT
I
had leased
we
had leased
you
had leased
he/she/it
had leased
they
had leased
PRESENT
I
lease
we
lease
you
lease
he/she/it
leases
they
lease
PRESENT PERFECT
I
have leased
we
have leased
you
have leased
he/she/it
has leased
they
have leased
I
am leasing
we
are leasing
you
are leasing
he/she/it
is leasing
they
are leasing
I
was leasing
we
were leasing
you
were leasing
he/she/it
was leasing
they
were leasing
I
will be leasing
we
will be leasing
you
will be leasing
he/she/it
will be leasing
they
will be leasing
I
have been leasing
we
have been leasing
you
have been leasing
he/she/it
has been leasing
they
have been leasing
I
had been leasing
we
had been leasing
you
had been leasing
he/she/it
had been leasing
they
had been leasing
I
will have been leasing
we
will have been leasing
you
will have been leasing
he/she/it
will have been leasing
they
will have been leasing
I
would have leased
we
would have leased
you
would have leased
he/she/it
would have leased
they
would have leased
I
would be leasing
we
would be leasing
you
would be leasing
he/she/it
would be leasing
they
would be leasing
I
would have been leasing
we
would have been leasing
you
would have been leasing
he/she/it
would have been leasing
they
would have been leasing
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