Definition

A type of property ownership where a person has the right to use and occupy land or buildings for a specific period of time, as agreed in a lease contract.

Example

They decided to invest in a leasehold property instead of freehold.

Conversation

Did you hear about the new leasehold property in our neighborhood?

Yeah, I saw the listing online; it looks really nice!

I wonder how long the leasehold lasts for that place.

I think it's for 99 years, which is pretty standard around here.

Synonyms & Antonyms

Root Explanation

Leasehold → It is formed from 'lease' (from Old French *laisser*, meaning to let or allow) and 'hold' (from Old English *holdian*, meaning to keep or possess). The term 'leasehold' refers to a property that is held under a lease agreement, allowing the tenant to occupy and use the property for a specified period while paying rent to the owner.

Memory Tip

Think of 'letting' ('lease') someone 'keep' ('hold') a property for a certain time — that's what leasehold means.

Visually Confused Words