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Tricky words in today´s OVI
           

Pridané: 16.2.2004
Autor: Andy BILLINGHAM
Kategória: 07/2004

Lease. This can be a noun (a lease, a legal document like a rental contract) or a verb (to lease, to transfer rights of usage of some property for a long time in return for regular payments, like rent). It was originally applied to land (real estate) in Britain, most of which is privately owned (enormous areas by the royal family, for example).

Later, when houses were built on the land for ordinary people to buy, they could not buy the land as well, but they could acquire the right to use the land for a long time (typically 100 years) with a lease agreement, in return for annual payments of some amount of rent. So nowadays in everyday life people can practically feel like the "owners" of the land which their house (their real property) stands on. They can do almost anything they like with the land (within the limitations in the lease agreement), and when they sell the house, the new owners take over the lease on the land. Much of this also applies to modern car leasing agreements - the monthly payments are even called "rent".

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