Meaning of leaseback

lease•back

Pronunciation: (lēs'bak"), [key]
— n.
  1. 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. Also called
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.