from the French laifer, demittere, "to let;" in law, a demise, or letting of lands, tenements, or hereditaments, unto another for life, term of years, or at will, for a rent reserved.

A lease is either written, called an indenture, deed-poll, or lease in writing; or by word of mouth, called lease parole.

All estates, interests of freehold, or terms for years in lands, &c. not put in writing and signed by the parties, shall have no greater effect than as estates at will; unless it be of leases not exceeding three years from the making; wherein the rent reserved shall be two-thirds of the value of the things demise. Leases exceeding three years must be made in writing; and if the substance of a lease be put in writing, and signed by the parties, though it be not sealed, it shall have the effect of a lease for years, &c.

An assignment differs from a lease only in this; that by a lease one grants an interest less than his own, reserving to himself a reversion; in assignments he parts with the whole property, and the assignee stands to all intents and purposes in the place of the assignor.

in Scots law. See Tack.

Lease and Release, a species of conveyance used in the English law, first invented by Sergeant Moore, soon after the statute of uses, and now the most common of any, and therefore not to be shaken; though very great lawyers (as particularly Mr Noy) have formerly doubted its validity. It is thus contrived. A lease, or rather bargain and sale, upon some pecuniary consideration, for one year, is made by the tenant of the freehold to the lessee or bargainer. Now this, without any enrolment, makes the bargainer stand seised to the use of the bargainer, and vests in the bargainer the use of the term for a year; and then the statute immediately annexes the possession. He therefore, being thus in possession, is capable of receiving a release of the freehold and reversion, which must be made to a tenant in possession: and accordingly, the next day, a release is granted to him. This is held to supply the place of livery of seizin; and so a conveyance by lease and release is said to amount to a feoffment.