### Question
How is the term long-term lease defined?


### Answer
The term **long-term lease** is defined in *10 U.S.C. § 7233* as the following:

> a lease, bareboat charter, or conditional sale agreement with respect to a vessel the term of which (including any option period) is for a period of 20 years or more

#### Citation:
  - *10 U.S.C. § 7233*
  - Heading: **Subtitle C-Navy and Marine Corps > PART IV-GENERAL ADMINISTRATION > CHAPTER 631-SECRETARY OF THE NAVY: MISCELLANEOUS POWERS AND DUTIES**

