The term 'not owned' can be summarized by the crossword solution 'LEASED, ' which is a six-letter word. Leasing is a contractual arrangement in which a party, known as the lessee, pays for the use of an asset owned by another party, known as the lessor. The lessee agrees to pay the lessor a predetermined amount of money over a specified period of time. Leasing is often used for large purchases such as cars, real estate, and equipment.