Set free or let out again? (8)

I believe the answer is:
released
'set free' is the definition.
(I've seen this before)
'let out again?' is the wordplay.
I cannot really understand how this works, but
'let' could be 'leased' (I've seen this in another clue) and 'leased' is found in the answer.
'again?' could be 're' (prefix meaning 'again') and 're' is found in the answer.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
'or' is the link.
Can you help me to learn more?
(Other definitions for released that I've seen before include "free after imprisonment?" , "Freed from confinement" , "Set free" , "Discharged" , "Sent from prison" .)
