Lease

A conveyance of an estate in lands or tenements (usually in consideration of rent or other annual recompense), less than that of the grantor, for life, for years or at will. Lease and release: a conveyance deriving its efficacy from the statute of uses, and evading livery of seisin and enrolment, now the most common method in England, of conveying freehold estates. It is a compound conveyance, consisting of a lease, or rather a bargain and sale, and a release, constituting separate deeds. The lease makes the lessor or bargainor stand seised to the use of the bargainee in whom the use is thus vested; to the use the statute immediately unites the possession; and the bargainee, being thus in possession, can receive a release completing the conveyance.