Leasehold estate

A leasehold estate is an <a href="/facts/Ownership/dI4oAYoD">ownership</a> of a temporary right to hold land or <a href="/facts/Property/F6bGqY2w">property</a> in which a <a href="/facts/Lease/rd3gvnkW">lessee</a> or a tenant has rights of <a href="/facts/Real_property/Ce5vubgz">real property</a> by some form of <a href="/facts/Title_(property)/FMz06JVV">title</a> from a lessor or <a href="/facts/Landlord/o8nzhFsp">landlord</a>. Although a tenant does hold rights to real property, a leasehold estate is typically considered <a href="/facts/Personal_property/Cd6YS3U3">personal property</a>.
Leasehold is a form of <a href="/facts/Land_tenure/zf9fEcFx">land tenure</a> or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a <a href="/facts/Freehold_(law)/cjL5xbtY">freehold</a> or <a href="/facts/Fee_simple/1XxHXYvK">fee simple</a> where the ownership of a property is purchased outright and after that held for an indeterminate length of time, and also differs from a <a href="/facts/Tenancy/xzBnkhPF">tenancy</a> where a property is let (rented) periodically such as weekly or monthly.
Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially known as <a href="/facts/Renting/3b8gwd3I">renting</a>. The leaseholder can remain in occupation for a fixed period, measured in months or years. Terms of the agreement are contained in a <a href="/facts/Lease/rd3gvnkW">lease</a>, which has elements of <a href="/facts/Contract/SkqyGj6S">contract</a> and <a href="/facts/Property_law/Ld8Fq4DK">property law</a> intertwined.

Leasehold estate open-in-new

Leasehold estate