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Real Estate vocabulary · Contracts, Deeds & Title

Leasehold

Meaning in real estate, with examples

/ˈliːshoʊld/nounCommon term

In real estate, leasehold means: Ownership of a property, usually a flat, for a fixed number of years under a long lease, while someone else owns the building and the land.

In Turkish: süreli mülkiyet, uzun süreli kullanım hakkı

How it is used

British English. Leaseholders often pay ground rent and a service charge to the freeholder. The years left on the lease matter: a short lease can make a flat hard to sell or mortgage, so owners may extend it.

Example sentences

  1. The flat is leasehold, with 92 years left on the lease.

  2. Many buyers avoid leasehold flats with less than 80 years remaining.

Common collocations

  • leasehold flat
  • lease extension
  • years left on the lease
  • ground rent
  • freeholdFull ownership of a property and the land it stands on, with no time limit. The owner is called the freeholder.
  • service chargeA regular fee that owners or tenants of flats and commercial units pay toward the upkeep of shared areas and services, such as cleaning, lifts, security and insurance.
  • leaseA legal contract in which an owner lets a tenant use a property for a fixed period in return for rent, setting out the rights and duties of both sides.
  • titleThe legal right to own a property, together with the records that show who the owner is and whether anyone else has a claim on it.

More terms: Contracts, Deeds & Title

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