Breadcrumb Home > Dictionary > Index L leaseback: Meaning and Definition of Find definitions for: lease•back Pronunciation: (lēs'bak"), [key] — n. 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. lease leasehold ✖ Related Content Daily Word Quiz: derogate Analogy of the Day: Today’s Analogy Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language