### Question
How does GENERAL ADMINISTRATION define long-term lease?


### Answer
Under *10 U.S.C. § 7233*, **long-term lease** is defined as:

> 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**

