Leasehold Estate

Leasehold Estate – A way of possessing property for a long period of time under the terms of an agreement whereby the possessing party does not actually own the property but rather owns the rights to possess the property for a period of time.

  • Example: Sometimes people buy properties with 99 year ground leases, these are leasehold estates. The owner can do whatever they want, so long as it does not violate the terms of the lease, for 99 years, but then the property reverts back to the party who leased it.>/li>
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