Meaning & use
leasehold property
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Meanings
nouncountableBritish
A home or piece of land that you own only for the fixed number of years stated in a lease, not permanently.
Grammar: Countable: you can say 'a leasehold property' or 'two leasehold properties'.
Patterns
- buy a leasehold property
- a leasehold property with 90 years left
They bought a leasehold property in the city center with 85 years left on the lease.
Because it is a leasehold property, she has to pay ground rent each year.
Leasehold properties are common in England, especially in blocks of flats.
noununcountableBritishlegal
The legal arrangement by which someone owns a property for a limited period under a lease.
Grammar: Uncountable when talking about the type of ownership in general: 'leasehold property is common here'.
Patterns
- leasehold property law
- the leasehold property market
The report explains how leasehold property works for first-time buyers.
Leasehold property can be complicated because the land belongs to someone else.
They discussed the pros and cons of leasehold property before deciding.
Word forms
| plural | leasehold properties |
|---|
Common combinations
- buy a leasehold property
- They decided to buy a leasehold property near the station.
- leasehold property market
- The leasehold property market has slowed in some cities.
- a leasehold property with years left
- A leasehold property with only 40 years left is hard to sell.
- convert to leasehold property
- The landlord plans to convert the building to leasehold property.
Synonyms and how they differ
- leasehold
- Used as a noun or adjective on its own: 'They own the leasehold' or 'a leasehold flat'; 'leasehold property' is the fuller phrase.
- long lease
- Focuses on the length of the legal agreement rather than the property itself, and is common in everyday British talk.
Opposites
Word family
- leaseholder noun
- The person who owns a leasehold property.
- lease noun
- The legal agreement that gives someone the right to use a property for a set period.
- leasehold adjective
- Describing a property held under a lease, as in 'a leasehold flat'.
Commonly confused: leasehold property or freehold property? leasehold property or rental property?
leasehold property vs freehold property
Freehold means you own the property and the land forever; leasehold means you own it only for the years in the lease.
leasehold property vs rental property
A rental property is one you pay rent to live in; a leasehold property is one you own for a limited time but may still pay ground rent on.
Practice
Which sentence uses 'leasehold property' correctly?
Choose one answer.
A leasehold property is owned for a fixed number of years, so 'with 70 years left on the lease' fits. Option A describes freehold, not leasehold. Option B describes renting, which is different from owning a leasehold. Option C confuses leasehold with a mortgage arrangement.
Make it your own
Write a sentence using “leasehold property”, then check it and compare it with the examples above.