What does leasehold mean?
A type of property ownership where the owner has the right to occupy and use the land for a specified period, usually in exchange for paying rent or a fee. The owner does not have the right to sell the land or make any permanent changes to it.
Example
"The company acquired a leasehold on the office building, giving them the right to occupy it for the next 20 years."
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.