1. In Equipment leasing, this is on ongoing type of lease arrangement. Additional equipment is leased by simply doing a new lease schedule for the new equipment rather than doing a new lease contract. This is a line of credit the lessee draws upon to finance more equipment. The original lease contract applies to any new additions. 2. In Real estate leasing, this is the controlling lease that allows the lessee to sub-lease the property for a period within the master lease’s term.
Link to This DefinitionDid you find this definition of MASTER LEASE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary