A partial lease is a lease which gives the lessee a term of use for a period that is shorter than the standard or full lease term. Terms of a partial lease vary according the the individual contract. In some cases, a partial lease involves a co-op between you and another lessee, where you split the bills in half. Some partial leases credit the term of a partial lease toward a full lease agreement. Partial leases are commonly found in stable contracts involving the use of its horses. Contract language of the particular partial lease contract should be consulted for applicable requirements.