Lease

A contract whereby the owner of an identified asset (the lessor) offers rights to use the asset to another party (the lessee) for a certain period.

In return the lessee makes payments of pre-determined amounts to the lessor.

See also

• Assets
• Contract
• Contract hire
• Contract purchase
• Dry
• Finance lease
• FLA
• Freehold
• Hire purchase
• Ijara
• Leasehold
• Lessee
• Lessor
• Operating lease
• Sale and leaseback
• Tenant
• Tenure
• Wet

Other links

• Students: A lesson on leases, The Treasurer, April 2013

With lease accounting exam questions, the hard marks tend to be scored while easier marks are often missed.

This article explains how to pick up points painlessly.