lease and release

noun

1

: a nearly obsolete common-law mode of conveyance of freehold estates by means of a lease vesting a leasehold estate in the lessee upon actual entry and a subsequent release of the reversion to the lessee, thus vesting the fee in the lessee without livery of seisin

2

: a nearly obsolete mode of conveyance under the Statute of Uses by means of a bargain and sale for a leasehold interest conventionally for a year, which under the statute vested the leasehold estate without entry, with a subsequent release vesting the fee in the lessee without entry or livery of seisin

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