leasehold


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Related to leasehold: freehold, Leasehold Improvements, leasehold interest, leasehold property

Leasehold

An estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time.

leasehold

n. the real estate which is the subject of a lease (a written rental agreement for an extended period of time). The term is commonly used to describe improvements on real property when the improvements are built on land owned by one party which is leased for a long term (such as 99 years) to the owner of the building. For example, the Pacific Land Company owns a lot and leases it for 99 years to the Highrise Development Corporation which builds a 20-story apartment building and sells each apartment to individual owners as condominiums. At the end of the 99 years the building has to be moved (impossible), torn down, sold to Pacific (which need not pay much since the building is old and Highrise has no choice), or a new lease negotiated. Obviously, toward the end of the 99 years the individual condominiums will go down in value, partly from fear of lessened resale potential. This is generally theoretical (except to lending companies because the security does not include the land) since there are few buildings with less than 50 or 60 years to go on the leases or their expected lifetimes, although there are some commercial buildings which are within 20 years of termination of such leases. In most cases the buildings are obsolete by the end of the leasehold. (See: lease)

leasehold

noun estate for a fixed term, estate for a fixed term of years, estate in realty, freehold, interest in real essate, interest of a lessee, land held by lease, land leased, propprty leased, real property subject to a lease, tenure by lease
See also: land, property

leasehold

holding under a LEASE.

LEASEHOLD. The right to an estate held by lease.

References in periodicals archive ?
On a net effective acre basis, AEPB is buying nearly 110,000 net acres and after giving effect to the value of the purchased production, AEPB is buying its new leasehold for nearly $6,000 per net effective acre.
Janice Adams, leasehold services manager, said: "We really do encourage new people to get involved, as it's their views that can shape our services.
For more information, go online or get in touch with the council's Leasehold Team for advice (see below).
The authors fear the number of leaseholders may grow and warned: "Any housing strategy that has the creation of more leasehold properties at its centre must be accompanied by an improved system of leasehold tenure that is fit for purpose.
25% with approximately two years remaining on the primary term and most have a two-year extension paid upfront ($200/acre) for 2,006 net acres of the leasehold.
Leasehold extension is the process of extending a lease on a property by paying the landlord or freeholder a sum of money which is sometimes referred to as compensation.
For a ground lease to be acceptable to a leasehold mortgagee without encumbering landlord's fee simple estate in the land and reversionary interest in the improvements, it should generally include the following key terms.
The Cushman & Wakefield seminar will examine how surplus properties can leave companies with millions of pounds of leasehold liabilities on their balance sheets, tying up vital capital.
The majority of leasehold properties are flats, although some houses are leasehold.
To help lessees better understand the leasehold system and how it works, the Association of Residential Managing Agents (ARMA) and the Leasehold Advisory Service (LEASE) have updated and re-launched one of their key guidance booklets: Living in Leasehold Flats.
Residential property specialist Steve Lewis from solicitors Needham & James said that most owners of such properties had a legal right to extend their leasehold - and should do so now or face difficulties when it comes to selling the property.
8 million net acres of leasehold of which StatoilHydro will own 0.