demise

transitive verb | \ di-ˈmīz \ | de·mise

1. : to convey (possession of property) by will or lease the demised premises

noun

1. : the conveyance of property by will or lease : lease

2. : the transmission of property by testate or intestate succession

3. : charter of a boat in which the owner surrenders completely the possession, command, and navigation of the boat — called also bareboat charter