Definition

1. Noun:
   • A property or land held under a lease: The legal right to occupy and use a property for a fixed period, as granted by a lease agreement with the owner (the freeholder). The leaseholder does not own the property outright but holds it for the term of the lease.

Usage

• As a noun: "Leasehold" refers to the tenure or the property itself that is held by lease.
  • They purchased a 99-year leasehold on the apartment.
  • The building is a leasehold, not a freehold.

Advanced Usage

• "Leasehold interest": The specific rights and benefits a leaseholder has in the property.
  • The investor was only interested in the leasehold interest of the commercial building.
• "Leasehold improvement": An alteration made by a tenant to a rented property to suit their needs.
  • The company capitalized the cost of the leasehold improvements.

Variants and Related Words

• Leaseholder (noun): The person or entity that holds a lease; a tenant under a long-term lease.
  • The leaseholder is responsible for the maintenance fees.
• Lease (noun/verb): The contract granting leasehold tenure; to grant or hold property by lease.
  • They signed a 10-year lease.
• Freehold (noun): The outright ownership of property and land, contrasting with leasehold.

Synonyms

• Tenancy: The possession of land or property as a tenant. (Note: Often implies a shorter or different type of agreement.)
• Holding: Something held or owned, often used in legal/property contexts.

Related Phrases

• "To hold on lease": To possess property under a lease agreement.
  • The restaurant holds the premises on a 25-year lease.
• "Leasehold estate": The legal interest or right of a leaseholder.
  • Her leasehold estate gives her the right to sublet the unit.

Related Idioms

Noun

1. land or property held under a lease