Leased is a term used to describe an agreement between two parties in which one party, the lessor, grants the use of a property, asset or service to another party, the lessee, for a specific period of time in exchange for payment. The three letter solution LET stands for 'Lease and Exchange of Tenancies' and is a legal document that outlines the terms of the lease. The nine letter solution CHARTERED refers to a type of lease in which the lessee has exclusive rights to the property or asset for a specified period of time. The six letter solution RENTED is similar to a lease, but the lessee does not have exclusive rights to the property or asset and can only use it for a specified period of time. The five letter solution INUSE is a term used to describe a property or asset that is currently being leased.