When a user connects to a DHCP server and asks that an IP address be assigned to you, it is leased to you. The server states you how long you can use the leased IP. Without having this assigned IP, your device won’t be able to communicate with the network. The Lease Obtained line is the date and time of the start of the DHCP lease. The Lease Expires line is the date and time stamp of when the lease is up for that IP address. The process is done this way in order to provide a dynamic ip that changes instead of a static one that never changes.