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Probate (also called proving a will) is the process of establishing the validity of a will, which was recorded in the grant of probate.
Lease and release was the most common method of conveying freehold property from the later seventeenth century onwards, before the introduction of the modern conveyance in the late nineteenth century. The lease was granted for a year (sometimes six months), then on the following day the lessor released their right of ownership in return for the consideration (the thing for which land was transferred from one party to another, usually, of course, a sum of money).
A covenant or deed of covenant was an agreement entered into by one of the parties to a deed to another. A covenant for production of title deeds was an agreement to produce deeds not being handed over to a purchaser, while a covenant to surrender was an agreement to surrender copyhold land.
From the British Records Association "Guidelines 3 - Interpreting Deeds: How To Interpret Deeds - A Simple Guide And Glossary".