Leased

The word "leased" (past tense of "lease") describes the act of granting temporary possession or usage of a property, asset, or service to another party (the lessee) in exchange for periodic payments (rent or fees) over a specified period, outlined in a legally binding agreement (the lease). This arrangement allows the lessee to utilize the object without outright ownership, while the lessor (owner) retains title and control, benefiting from a consistent revenue stream. Leases often detail maintenance responsibilities, restrictions on use, and conditions for termination. They can apply to a wide variety of assets, including real estate (land, buildings), vehicles, equipment, and even software or digital services.

Leased meaning with examples

• After months of searching, Sarah finally Leased an apartment downtown. The lease agreement detailed the monthly rent, included a parking space, and restricted pets. She carefully reviewed the document with a lawyer before signing to ensure her rights were protected. This agreement granted her the right to live there, making it an important step towards independent living.
• The company decided to lease several new delivery vans to expand its fleet. They opted for a long-term lease, offering flexibility and covering maintenance costs. The financial implications were carefully considered before signing. This decision avoided the upfront capital outlay required for purchasing, conserving their financial capital.
• The agricultural cooperative Leased additional farmland to increase its crop production. The contract included specific requirements regarding soil management and allowed them to expand their operation significantly. The terms provided both opportunity and risk and required them to meet all conditions. This expansion helped them in the long run, increasing the area to cultivate.
• Instead of purchasing expensive software licenses, the startup company Leased their required software licenses from a cloud provider. This allowed them to access the programs on a monthly subscription basis, saving on upfront capital expenditures. It helped them save money and the freedom of choosing which software to use, making business easier.