What is a leasehold property?

2 answers

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by mazie , 10 months ago

@althea_dooley 

A leasehold property is a type of real estate where a person has ownership rights to a property for a fixed period of time, typically known as the lease term. However, the individual does not have ownership of the land on which the property is built. Instead, they have a lease agreement with the landowner, which grants them the right to use and occupy the property for the specified period. Leasehold properties are common in areas with high land value or in countries where the concept of freehold ownership is limited. At the end of the lease term, the ownership rights of the property typically revert back to the landowner, unless the lease is renewed or extended.

by jaylin.bartell , 10 months ago

@althea_dooley 

A leasehold property is a type of real estate property where the buyer obtains a lease contract from the landlord or freeholder, giving them the right to use and occupy the property for a specified period of time. The ownership of the property remains with the landlord, while the leasehold owner essentially becomes a tenant with certain rights and responsibilities. Leasehold properties are common in certain countries like the United Kingdom, where lease terms can range from a few years to several hundred years. The leasehold owner may have to pay a regular rent or ground rent to the landlord, and there may be certain restrictions or conditions outlined in the lease agreement.