Leasehold: meaning, definitions and examples
๐ข
leasehold
[ หliหshhoสld ]
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.
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
Etymology
The term 'leasehold' originates from the combination of the words 'lease' and 'hold'. The concept of leasing land has been prevalent since the Middle Ages in England when lords would grant portions of their land to tenants in exchange for rent or service. The modern leasehold system has evolved from these feudal practices, where land was kept under the ownership of lords while common people could 'hold' or use that land for a specified period through leases. Over the centuries, this practice became more formalized, with legal frameworks established to protect the rights of both landlords and leaseholders. Today, leasehold is widely used in residential housing markets, particularly in urban areas, allowing individuals to occupy properties without having outright ownership of the land itself.