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What is "underlet"

The Collaborative International Dictionary
Underlet

Underlet \Un`der*let"\, v. t.

  1. To let below the value.

    All my farms were underlet.
    --Smollett.

  2. To let or lease at second hand; to sublet.

Wiktionary
underlet

vb. 1 To let below the value. 2 To let or lease at second hand; to sublet.