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 ?
The national housebuilder was due to appear in court next month for a seven-week trial over alleged mis-selling to buyers, who claim they were not told the homes were leasehold until it was too late.
Over recent years, there has also been a growing trend for new-build houses to be sold as leasehold.
The letter said: "We have therefore decided that we will investigate to see the extent of any mis-selling and onerous leasehold terms, including whether they might constitute 'unfair terms' as legally defined.
This means that the homeowner buys a leasehold allowing them use of a property while somebody else, often the developer that built the home, owns the freehold.
She said: "I share the concerns of my constituents who feel like they have been ripped off by leasehold contracts and I call on the Government to launch an inquiry."
They have been told they can extend their leasehold, but the cost is likely to be more than PS30,000.
She pointed out that solicitors acting for homebuyers have a duty to explain the situation with the leasehold or freehold to their client before any property is purchased.
Kiambu governor Ferdinand Waititu renewed the company's leasehold last year while the leasehold in Murang'a is expected to expire next year.
Wales was effectively the birthplace of the original legislation to address leaseholders' rights, the Leasehold Reform Act 1967, which arose out of a desire to protect the miners of the south Wales valleys from the loss of their homes at the end of their long tenancies.
The all-party parliamentary group on leasehold and commonhold reform managed to secure the debate and used it as an opportunity to highlight leasehold abuse and to push for reform.
This has left some homes potentially unsellable with some lenders picky about leasehold properties.
THE leasehold scandal that engulfed housebuilding firm Taylor Wimpey earlier this year has led to a 24 per cent slump in their profits.