what does leasehold mean?

Asked by Name, Ponca City, OK Tue Apr 3, 2012

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David Herren’s answer
David Herren, Agent, Atlanta, GA
Thu Apr 5, 2012
Leasehold is a legal term for type of estate, most comonly called a lease where the right of possession is limited to a specific period of time. If you rent a home or business the contract to do so is a lease, and the type of posession is called a leasehold. In contrast, a freehold estate is an estate of ownership where the time of posession is indefinite. It gets much more complicated, so contact a Realtor or real estate attorney if you have more questions.
1 vote
Jane Thompson, Agent, Atlanta, GA
Tue Apr 3, 2012
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord.

Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given length of time. As lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and thereafter held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) on a periodic basis such as weekly or monthly.
0 votes
Fred Yancy, Agent, Woodstock, GA
Tue Apr 3, 2012
Simply put it is a lease for real property. So during the time that an individual is leasing the property, the landlord cannot lease the property to someone else i.e. a leasehold.
0 votes
Lisa Crowder, Agent, Atlanta, GA
Tue Apr 3, 2012
0 votes
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