sublease, sublet (verb)

a lease from one lessee to another

sublet, sublease (verb)

lease or rent all or part of (a leased or rented property) to another person

"We sublet our apartment over the summer"

sublease (Noun)

A lease on something made by someone who already leases it.

sublease (Verb)

To lease something that is already leased; to sublet.

sublease

A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use.