Leasehold
/ˈliːshəʊld/
Definition 1 of 2
Pro Tip 1/3Duration Specific
Leasehold always involves a fixed period; know the length of time.
Their coffee shop operates on a 10-year leasehold.
Pro Tip 2/3Not Ownership
Remember leasehold means renting, not owning the property.
Despite the improvements they made, the leasehold means they don't own the space.
Pro Tip 3/3Legal Agreements
A leasehold agreement involves legally binding documents.
Before opening her gallery, she carefully reviewed the leasehold contract.
Compare with
ContractEstateOccupancyPossessionPremisePropertyRentTenancy
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