Lease and release
Also found in: Dictionary, Wikipedia.
LEASE AND RELEASE. A species of conveyance, invented by Serjeant Moore, soon
after the enactment of the statute of uses. 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 bargainee. This,
without any enrollment, makes the bargainor stand seised to the use of the
bargainee, and vests in the bargainee the use of the term for one year, and
then the statute immediately annexes the possession. Being thus in
possession, he is capable of receiving a release of the freehold and
reversion, which must be made to the tenant in possession; and, accordingly,
the next day a release is granted to him.
2. The lease and release, when used as a conveyance of the fee, have the joint operation of a single conveyance. 2 Bl. Com. 339; 4 Kent, Com. 482; Co. Litt. 207; Cruise, Dig. tit. 32, c. 11.