leasehold
/ˈlisˌhoʊld/
noun
- The right to use and occupy a property for a specified period under a lease, without owning the land or building outright.
- The apartment is held on a 99-year leasehold, which means the tenant does not own the land.
- Buying a leasehold property often involves paying ground rent to the freeholder.
- The leasehold on the shop expires in 2030, so the owner is trying to sell it before then.
Synonyms
Antonyms
adjective
- Relating to or involving a leasehold arrangement.
- They signed a leasehold agreement for the office space.
- The leasehold interest gives the tenant the right to use the property for a fixed term.
- Leasehold properties are common in many cities where land is expensive.