AskDefine | Define leasehold

Dictionary Definition

leasehold n : land or property held under a lease

User Contributed Dictionary

English

Noun

  1. The tenure of property held by a lessee under a lease

Related terms

Extensive Definition

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

leasehold in German: Erbbaurecht
leasehold in Italian: Enfiteusi
leasehold in Dutch: Erfpacht
leasehold in Japanese: 定期借地権
leasehold in Chinese: 租借
leasehold in Swedish: Arrende

Synonyms, Antonyms and Related Words

adverse possession, alodial, alodium, burgage, claim, colony, copyhold, de facto, de jure, dependency, derivative title, equitable estate, estate at sufferance, estate for life, estate for years, estate in expectancy, estate in fee, estate in possession, estate tail, fee, fee fief, fee position, fee simple, fee simple absolute, fee simple conditional, fee simple defeasible, fee simple determinable, fee tail, feod, feodum, feud, feudal estate, fief, fiefdom, frankalmoign, free socage, freehold, gavelkind, having title to, hold, holding, knight service, lay fee, lease, legal claim, legal estate, legal possession, mandate, occupancy, occupation, original title, owning, paramount estate, particular estate, possessing, possession, preoccupancy, preoccupation, prepossession, prescription, property, property rights, proprietary rights, remainder, reversion, seisin, socage, squatting, sublease, tenancy, tenantry, tenure, tenure in chivalry, title, underlease, undertenancy, usucapion, vested estate, villein socage, villeinhold, villenage
Privacy Policy, About Us, Terms and Conditions, Contact Us
Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2
Material from Wikipedia, Wiktionary, Dict
Valid HTML 4.01 Strict, Valid CSS Level 2.1