Savery, Stevens and Hutt , solicitors

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).

From the British Records Association "Guidelines 3 - Interpreting Deeds: How To Interpret Deeds - A Simple Guide And Glossary".