Meaning of the word leased in English

What does leased mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

leased

US /liːst/
UK /liːst/

Verb

to grant the temporary possession or use of (land, a building, a car, etc.) to another in return for rent

Example:
They leased the apartment for two years.
The company leased a new fleet of vehicles.

Adjective

held or used under a lease

Example:
The family lives in a leased property.
The company operates a fleet of leased cars.