Leasehold

Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. As lease is a legal estate, leasehold estate can be bought and sold on the open market and differs from a tenancy where a property is let on a periodic basis such as weekly or monthly. Until the end of the lease period (often measured in decades; a 99 year lease is quite common) the leaseholder has the right to remain in occupation as an assured tenant paying an agreed rent to the owner. Terms of the agreement are contained in a lease, which has elements of contract and property law intertwined.

The term estate for years may occasionally be used. This refers to a leasehold estate for "any" specific period of time (the word "years" is misleading). An estate for years is not automatically renewed.

Colloquially, a "lease" is often a formalization of a longer, specific period as compared with a "rental" that created a tenancy at will, terminable or renewable at the end of a short period.

See also

* Freehold
* Rental agreement personal and real property rental
* Lease
* Leasehold valuation tribunal

External links

* [http://www.rpts.gov.uk/about_us/lvt.htm Residential Property Tribunal website (for the English LVT)]
* [http://www.lease-advice.org/ LEASE advice - the government's leasehold advisory service for England]


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Look at other dictionaries:

  • leasehold — lease·hold / lēs ˌhōld/ n: a tenure of real property held by a lessee under a lease: a lessee s estate in the property; also: the property so held compare fee, freehold Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • Leasehold — Lease hold , a. Held by lease. [1913 Webster] …   The Collaborative International Dictionary of English

  • Leasehold — Lease hold , n. A tenure by lease; specifically, land held as personalty under a lease for years. [1913 Webster] …   The Collaborative International Dictionary of English

  • leasehold — ► NOUN 1) the holding of property by lease. 2) a piece of land or property held by lease. DERIVATIVES leaseholder noun …   English terms dictionary

  • leasehold — [lēs′hōld΄] n. 1. the act or condition of holding by lease 2. lands, buildings, etc. held by lease adj. held by lease leaseholder n …   English World dictionary

  • leasehold — An asset providing the right to use property under a lease agreement. Bloomberg Financial Dictionary * * * leasehold lease‧hold [ˈliːshəʊld ǁ hoʊld] adjective LAW PROPERTY leasehold land, buildings etc can be used by someone for as long as is… …   Financial and business terms

  • leasehold — [[t]li͟ːshoʊld[/t]] leaseholds 1) ADJ If a building or land is described as leasehold, it is allowed to be used in return for payment according to the terms of a lease. [mainly BRIT] I went into a leasehold property at four hundred and fifty… …   English dictionary

  • leasehold — adjective especially BrE leasehold property is owned only for as long as is stated in a lease compare freehold leasehold adverb: Buying leasehold is cheaper …   Longman dictionary of contemporary English

  • leasehold — UK [ˈliːsˌhəʊld] / US [ˈlɪsˌhoʊld] noun Word forms leasehold : singular leasehold plural leaseholds 1) a) [countable] a house or flat that you lease b) [uncountable] the use of property by leasing it 2) [usually before noun] owned or used for a… …   English dictionary

  • leasehold — lease|hold [ˈli:shəuld US hould] adj especially BrE leasehold property is property that you will own only for the period of time stated in a lease →↑freehold >leasehold adv …   Dictionary of contemporary English

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