Leasehold: meaning, definitions and examples
๐ข
leasehold
[หliหshhoสld ]
Definition
real estate
Leasehold is a type of property tenure where a person holds the land and property on it through a lease agreement with the landowner, typically for a specified number of years. The leaseholder pays rent or a fee to the landlord while enjoying the rights to occupy and use the property. At the end of the lease period, ownership reverts back to the landlord unless the lease is extended. This arrangement is common in various countries and is often used for residential and commercial properties. The leasehold system can be contrasted with freehold ownership, where the owner has full ownership of the property and land.
Synonyms
Examples of usage
- He bought a leasehold property in the city.
- The leasehold agreement lasts for 99 years.
- Many apartments are sold on a leasehold basis.
- Investing in leasehold can have long-term risks.
Interesting Facts
Legal Aspects
- In many countries, leaseholds can last anywhere from 30 to 99 years, after which ownership typically returns to the landlord.
- Lease agreements often require payment of ground rent to the landlord, even though the tenant uses the property.
Historical Origins
- The concept of leasehold dates back to medieval England when land ownership systems began to emerge.
- The Domesday Book of 1086 recorded land ownership and leases, giving insights into early leasehold arrangements.
Real Estate Market
- In urban areas, leasehold properties have become common, especially for apartments, due to land scarcity.
- Some real estate markets, particularly in Asia, offer leasehold contracts that can complicate sales and valuations.
Cultural Perspectives
- Leasehold arrangements can reflect cultural attitudes toward land ownership, differing significantly across regions.
- In some cultures, leasehold is seen as a way to maintain community ownership rather than individual private ownership.
Comparison to Other Forms of Ownership
- Unlike freehold ownership, where you own the property outright, leasehold is a temporary agreement.
- Shared ownership schemes, where buyers purchase a percentage of a property, can be seen as a hybrid between leasehold and freehold.
Translations
Translations of the word "leasehold" in other languages:
๐ต๐น arrendamento
๐ฎ๐ณ เคชเคเฅเคเคพ
๐ฉ๐ช Pacht
๐ฎ๐ฉ sewa
๐บ๐ฆ ะพัะตะฝะดะฐ
๐ต๐ฑ dzierลผawa
๐ฏ๐ต ใชใผในใใผใซใ
๐ซ๐ท bail
๐ช๐ธ arrendamiento
๐น๐ท kira
๐ฐ๐ท ์๋๊ถ
๐ธ๐ฆ ุฅูุฌุงุฑ
๐จ๐ฟ nรกjem
๐ธ๐ฐ nรกjom
๐จ๐ณ ็ง่ตๆ
๐ธ๐ฎ najem
๐ฎ๐ธ leigusamningur
๐ฐ๐ฟ ะถะฐะปาะฐ ะฑะตัั
๐ฌ๐ช แฅแแ แแแแแแ
๐ฆ๐ฟ icarษ
๐ฒ๐ฝ arrendamiento