Definition
An interest in real property granted by a lease, giving possession for a defined term rather than ownership.
Example
Leasehold condominiums trade at a discount as the remaining ground lease term shortens.
Related terms
Frequently asked questions
What does Leasehold mean in real estate?
An interest in real property granted by a lease, giving possession for a defined term rather than ownership.
How is Leasehold used in practice?
Leasehold condominiums trade at a discount as the remaining ground lease term shortens.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.