leasehold
lease·hold
L0091600 (lēs′hōld′)leasehold
(ˈliːsˌhəʊld)lease•hold
(ˈlisˌhoʊld)n.
leasehold
2. the property held in this way. Cf. freehold.
Noun | 1. | leasehold - land or property held under a lease |
单词 | leasehold | |||
释义 | leaseholdlease·holdL0091600 (lēs′hōld′)leasehold(ˈliːsˌhəʊld)lease•hold(ˈlisˌhoʊld)n. leasehold2. the property held in this way. Cf. freehold.
leaseholdleaseholdLeaseholda form of land rental in England. Leasehold began to develop in the late Middle Ages, when direct cultivation of the lord’s manor with serf labor came to an end. The lords began to rent out their domain as a whole to one person (a big leasehold, which in time became the capitalist form of farm rental) or to several persons (small peasant leaseholds). Rentals “at the will of the lord” for terms of from one to three years were most common in the latter category. The holders of such rentals were among the first to be driven from the land in the late 15th and 16th centuries by enclosures. leaseholdleaseholdLeaseholdAn estate, interest, in real property held under a rental agreement by which the owner gives another the right to occupy or use land for a period of time. leaseholdn. the real estate which is the subject of a lease (a written rental agreement for an extended period of time). The term is commonly used to describe improvements on real property when the improvements are built on land owned by one party which is leased for a long term (such as 99 years) to the owner of the building. For example, the Pacific Land Company owns a lot and leases it for 99 years to the Highrise Development Corporation which builds a 20-story apartment building and sells each apartment to individual owners as condominiums. At the end of the 99 years the building has to be moved (impossible), torn down, sold to Pacific (which need not pay much since the building is old and Highrise has no choice), or a new lease negotiated. Obviously, toward the end of the 99 years the individual condominiums will go down in value, partly from fear of lessened resale potential. This is generally theoretical (except to lending companies because the security does not include the land) since there are few buildings with less than 50 or 60 years to go on the leases or their expected lifetimes, although there are some commercial buildings which are within 20 years of termination of such leases. In most cases the buildings are obsolete by the end of the leasehold. (See: lease) leaseholdholding under a LEASE.LEASEHOLD. The right to an estate held by lease. LeaseholdLeaseholdLeaseholdleaseholdA name given to the tenant's rights in real estate after signing a lease.The leasehold estate is classified as a less-than-freehold estate. leasehold
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