Leasehold


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Leasehold

An asset providing the right to use property under a lease agreement.

Leasehold

The accounting status of assets under operating leases. An operating lease gives the lessee fewer rights to use the assets than a capital lease would; expenses on leaseholds are considered rental expenses. See also: Freehold.

leasehold

A 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.

References in periodicals archive ?
Under current leasehold rules, people typically buy flats with a lease of up to 125 years, but as the lease runs out its value can depreciate.
Including these land service agreements and its own landmen and lease brokers, Chesapeake now has a substantial competitive advantage with over 750 landmen and lease brokers dedicated to acquiring additional undeveloped leasehold and surface drillsites in Tarrant County.
A leasehold gives the homeowner the right to use a home for a period of time, typically between 99 years and 125 years.
Housing and Regeneration Minister Rebecca Evans said: "I am delighted that major home builders such as Taylor Wimpey, Bellway, Barratts, Redrow and Persimmon will no longer offer houses for sale on a leasehold basis, unless absolutely necessary.
While at present the proposed English legislation would only address the issues relating to new build leasehold properties, and leaves the wider issue of existing leaseholds for future discussion, it is at least a start.
Lee McGray, development director at NTWDC said: "Like many, similar development projects in the UK, the land on which homes are built at The Rise remained leasehold.
Leasehold used to apply mainly to flats where no resident owns the land and where service charges for areas owned in common such as entrance and stairwells are needed.
Leasehold starts out a little cheaper but unlike freeholders who own the land on which their home is built, leaseholders have to pay annual "ground rent" to the freeholder.
It may spread to other housebuilders who had similar rip-off leasehold deals.
It may spread to other housebuilders that had similar rip-off leasehold deals.
A spokesman for the Welsh Government said yesterday: "We are aware of the issues around new-build houses being sold as leasehold and are considering how best to address these and other concerns regarding leasehold.
Communities Secretary Sajid Javid has set out plans to ban new build houses being sold as leasehold as well as restricting ground rents to as low as zero.