Lease \Lease\, v. t. [imp. & p. p. Leased; p. pr. & vb. n. Leasing.]

[F. laisser, OF. laissier, lessier, to leave, transmit, L. laxare to loose, slacken, from laxus loose, wide. See Lax, and cf. Lesser.]

1. To grant to another by lease the possession of, as of lands, tenements, and hereditaments; to let; to demise; as, a landowner leases a farm to a tenant; -- sometimes with out.

There were some [houses] that were leased out for three lives. --Addison.

2. To hold under a lease; to take lease of; as, a tenant leases his land from the owner.

Source: Webster's Revised Unabridged Dictionary (1913)