renewal of lease

A creation of a new lease rather than an extension of an old lease. 32 Am J1st L & T § 956. See extension of lease.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • lease — 1 / lēs/ n [Anglo French les, from lesser to grant by lease, from Old French laisser to let go, from Latin laxare to loosen, from laxus slack] 1 a: a contract by which an owner of property conveys exclusive possession, control, use, or enjoyment… …   Law dictionary

  • renewal — re·new·al /ri nü əl, nyü / n 1: the act or process of renewing a renewal of the copyright 2: the quality or state of being renewed 3: something renewed 4: something used for renewing; specif: an expenditure that betters existing fixed assets …   Law dictionary

  • Lease Administration — is a department that usually falls under an organization’s real estate department. Lease Administration involves, but not limited to: receiving rents from facilities they own and paying rent for the facilities they lease. It has become an… …   Wikipedia

  • renewal option — UK US noun [C] ► the right to continue an agreement for an extra period of time: »It is a 20 year lease with a five year renewal option. »We can offer you some great renewal options for your cell phone contract …   Financial and business terms

  • Renewal Option — A clause in a lease that outlines the terms for renewing or extending an original lease agreement. The renewal option appears as a covenant in the original lease and provides specifications under which the leaseholder can renew or extend the… …   Investment dictionary

  • LEASE AND HIRE — The Hebrew term sekhirut embraces the lease of immovable property (houses and fields) as well as the hire of movable property and personal services, and is a near parallel of locatio conductio rei in Roman law. In this article the term hire is… …   Encyclopedia of Judaism

  • renewal — /rɪ nju:əl/ noun the act of renewing ● renewal of a lease or of a subscription or of a bill ● renewal of a contract ● His contract is up for renewal ● When is the renewal date of the bill? ♦ to be up for renewal to be due to be renewed ● His… …   Dictionary of banking and finance

  • lease — a legal contract covering the possession and use of property, plant or equipment between the owner ( lessor) and another person ( lessee) at a given rent, for a stated length of time. Glossary of Business Terms A contract providing for the use of …   Financial and business terms

  • Lease — A long term rental agreement, and a form of secured long term debt. The New York Times Financial Glossary * * * ▪ I. lease lease 1 [liːs] verb [transitive] COMMERCE 1. if you lease something to someone, you give them the right to use it for a… …   Financial and business terms

  • lease — {{Roman}}I.{{/Roman}} noun ADJECTIVE ▪ long, long term ▪ short, short term ▪ ten year, etc. ▪ commercial …   Collocations dictionary

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