- leasehold
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I
noun
estate for a fixed term, estate for a fixed term of years, estate in realty, freehold, interest in real estate, interest of a lessee, land held by lease, land leased, property leased, real property subject to a lease, tenure by lease
II
index
property (land)
Burton's Legal Thesaurus. William C. Burton. 2006
- leasehold
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The tenant's interest in real estate or right to occupy it, as established by a written or oral lease or by implicit permission of the owner.Category: Real Estate & Rental Property → Renters' & Tenants' Rights
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- leasehold
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An estate in land created on the grant of a lease, being a contract between the landlord and the tenant for the exclusive possession and profit of land for some determinate period.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- leasehold
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n. Generally, a tenant's interest in the real property used or possessed pursuant to a lease.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- leasehold
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An estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time.
Dictionary from West's Encyclopedia of American Law. 2005.
- leasehold
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An estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- leasehold
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n.the real estate which is the subject of a lease (a written rental agreement for an extended period of time). The term is commonly used to describe improvements on real property when the improvements are built on land owned by one party which is leased for a long term (such as 99 years) to the owner of the building. For example, the Pacific Land Company owns a lot and leases it for 99 years to the Highrise Development Corporation, which builds a 20-story apartment building and sells each apartment to individual owners as condominiums. At the end of the 99 years the building has to be moved (impossible), torn down, sold to Pacific (which need not pay much since the building is old and Highrise has no choice), or a new lease negotiated. Obviously, toward the end of the 99 years the individual condominiums will go down in value, partly from fear of lessened resale potential. This is generally theoretical (except to lending companies because the security does not include the land) since there are few buildings with less than 50 or 60 years to go on the leases or their expected lifetimes, although there are some commercial buildings which are within 20 years of termination of such leases. In most cases the buildings are obsolete by the end of the leasehold.
Law dictionary. EdwART. 2013.
