Definition, Meaning & Synonyms

leasehold

noun

/ˈliːs.hoʊld/

Definition

A legal interest in land or property that allows the holder to use and occupy the property for a specified period under the terms of a lease agreement.

Examples

They signed a leasehold agreement for the apartment, which will last for 99 years.
The company operates on a leasehold basis, renting office space from a commercial landlord.
Homebuyers often inquire about leasehold properties to understand their rights and responsibilities.

Meaning

Leasehold refers to an arrangement where a person or company is granted the right to use a property for a number of years, decades, or even centuries, while the ownership of the property remains with another party (the freeholder).