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 ?
A spokesman for CRM Residential, the managing agents for the development, said: "Under the terms of the lease we are obliged, on behalf of all leaseholders, to maintain the development in a good state of repair.
"Leaseholders have a statutory right to extend their lease by an additional 90 years and reduce the ground rent to zero, which would make it more attractive to potential purchasers." However, he points out that leaseholds will still need to pay service charges and any permission fees that remain in the extended lease.
"The replacement of the cladding is work that the leaseholders of Skyline 1 are obliged to pay for under the terms of each of their individual leases."
Nevertheless, it is common practice for the leaseholders to get together to solve any problems between them.
Ismael, however, says that the majority of the leaseholders have not registered with them and he expects that the actual total number is about 50,000 in Erbil and 200,000 across the whole Region.
As for the content of the leaseholder's response, the regulation requires grazing leaseholders to allow access to any person who has provided the required information, except under several access scenarios identified in the regulations.
Unlike a leaseholder, Forney, 58, has no legal right to a replacement unit or housing subsidy.
Businessman Greenberg, who apparently views the Gramercy Park Hotel as a "rough diamond" is reported to have stated that the new leaseholders will be more equipped than he to transform the hotel at 2 Lexington Avenue.
However, a mechanic's lien may be unenforceable against a property owner if the materials are supplied on contract with a leaseholder making improvements to a leasehold estate.
While the insurers that covered the World Trade Center and the leaseholder who signed a 99-year lease on the property are still several billion dollars apart on settling their insurance dispute, the lead insurer on the property said it would be "more accommodating" if it were negotiating directly with New York City.
But it's not a household name like the major pub chains since each establishment is run as a unique property under a name and direction chosen by the leaseholder.