the disposal of a building, land, or other property to a buyer under special arrangements for simultaneously leasing it on a long-term basis to the original seller, usually with an option to renew the lease.
The sale of a fixed asset that is then leased by the former owner from the new owner. A sale and leaseback permits a firm to withdraw its equity in an asset without giving up use of the asset. Also called leaseback.
Main Entry: lease·back Pronunciation: 'lEs-"bak Function: noun : the sale of property with the understanding that the seller can lease it back from the new owner —often used in the phrase sale and leaseback
[lees-bak] 
