leasehold
Temporary property rights
Leasehold describes property held under a lease rather than owned outright.
A leaseholder has rights to use and occupy the property for a fixed term—often decades—but doesn't own the land beneath it.
When the lease expires, ownership reverts to the freeholder.
Common in British property law: They bought a leasehold flat with sixty years remaining.
The opposite is freehold, where you own the property and land permanently.
Protected employment status
- freeholdPermanent property title
- tenancyRenter's period of residence
- covenantBinding formal pledge
- demiseCessation of existence
reversion · conveyance · enfranchisement · assignment · surrender · forfeiture · dilapidations · premium
Property owner renting out
- tenantOne who rents property
- freeholderOutright land owner
- subtenantRenter from another renter
- titleholderOne who holds a championship
Lacking vertical variation
- apartmentRented unit in building
- maisonetteMulti-floor dwelling unit
- condominiumOwned unit, shared grounds
- unitIndividual part or measure
premises · dwelling · block · estate · building · fixture · improvement · appurtenance
Added cost for better
- mortgageSecured home loan
- valuationAssessment of monetary worth
- appraisalEstimation of worth
- depreciationAsset value reduction over time
Shared position between parties
- deedWritten property conveyance
- termFixed period or word
- clauseProvision in agreement
- obligationRequired task or commitment
renewal · extension · expiration · termination · compliance · indemnity · schedule · provision
tenure
Protected employment status
demise · reversion · conveyance · enfranchisement · assignment · surrender · forfeiture · dilapidations · premium · peppercorn
landlord
Property owner renting out
- tenantOne who rents property
- freeholderOutright land owner
- subtenantRenter from another renter
titleholder · occupier · assignee · guarantor · mortgagee
flat
Lacking vertical variation
- apartmentRented unit in building
- maisonetteMulti-floor dwelling unit
- condominiumOwned unit, shared grounds
unit · premises · dwelling · block · estate · building · fixture · improvement · appurtenance
premium
Added cost for better
agreement
Shared position between parties
obligation · renewal · extension · expiration · termination · compliance · indemnity · schedule · provision · restriction
- rentingtenant, landlord, rent, rental, renter
- propertyproperty, land, ownership, house, home
- property typesapartment, condo, townhouse, studio, duplex
- UK Propertyfreehold, estate agent, council house, terraced house, semi-detached
- Canadian Housingcondo, townhouse, detached home, semi-detached, duplex
- farm leasingtenant farming, sharecropping, tenant farmer, cash rent, rental contract