Definition

1. Adjective:
   • Hired for exclusive temporary use: Describes something (typically a vehicle, property, or equipment) that has been formally rented or let for a specific period and purpose, often under a contractual agreement.

Examples of Usage

• Adjective:
  • The company used a leased car for the business trip.
  • They moved into a leased apartment for one year.
  • The construction project required leased heavy machinery.

Advanced Usage

• "Leased line": A private telecommunications circuit rented for exclusive use, typically by a business.

  • The bank uses a leased line for secure data transmission between its branches.

• "Leased asset": An item of property, plant, or equipment that is leased rather than owned.

  • The aircraft appeared on the balance sheet as a leased asset.

Variants and Related Words

• Lease (verb/noun): The act of granting or obtaining property by lease; the contract itself.

  • They decided to lease the office space for five years.
  • The lease expires next month.

• Lessee (noun): The party who rents property from the owner (the lessor).

  • The lessee is responsible for maintenance under the terms of the agreement.

• Lessor (noun): The owner who grants a lease.

  • The lessor agreed to repaint the building.

Synonyms

• Rented: Secured for temporary use in return for payment.
• Chartered: Hired for exclusive use (common for vehicles like buses, boats, or planes).
• Hired: Engaged for temporary use.

Related Phrasal Verbs / Constructions

• To lease out: To grant a lease on something one owns.
  • The owner decided to lease out the commercial property.

Related Idioms

Adjective

1. hired for the exclusive temporary use of a group of travelers
   • a chartered plane
   • the chartered buses arrived on time