Leasehold Definition and Legal Meaning

On this page, you'll find the legal definition and meaning of Leasehold, written in plain English, along with examples of how it is used.

What is Leasehold?

(n) Leasehold is the property which was held by a person by virtue of a lease agreement between him and the owner, permitting him to hold the property for such a period as said in the lease agreement for a consideration payable to the owner of the property. It differs from the freehold property to the extend that it is returnable after the expiry of the period.