Definition: A leasehold, or nonfreehold, estate is a possessory interest held by a tenant rather than ownership of the landlord’s title. Leasehold interests include an estate for years and other forms of tenancy.
Example
A tenant rents an apartment for six months. The tenant has a leasehold interest while the landlord retains the ownership interest.
Keep the distinction clear
“Estate for years” means a fixed term, which can be shorter than a year. Not every leasehold has a fixed ending date; periodic tenancies renew by periods. Identify the type of legal interest rather than judging only the length of occupancy.
Related terms
Freehold Estate · Assignment · Novation
Keep studying
Freehold vs. Leasehold Estates
References: FREC Course I syllabus, property ownership
Pronunciation (US): LEES-hohld ih-STAYT (capitals show stress)
Pronunciation reference: Merriam-Webster
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