Operating lease
A lease allowing a business to use an asset for a period without usually taking on the risks and rewards associated with ownership for most of the asset’s life.
Related terms
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Lease
A legal agreement giving a tenant the right to use property or an asset for a defined period on agreed terms.
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Assignment of lease
The transfer of a tenant’s interest in a lease to another party, usually subject to the lease terms and any required landlord consent.
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Lease liability
An amount or obligation arising under a lease, such as unpaid rent, service charges, dilapidations or guaranteed lease commitments.
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