What is Leasehold? | REAL-ESTATE-SALESPERSON Exam Prep

A leasehold is an interest in real property held by a tenant under a lease agreement, granting the right to possess and use the property for a specified period while ownership remains with the landlord (lessor), making it a nonfreehold estate that is less than full ownership. 📚 Learn more about Leasehold and other key terms for your REAL-ESTATE-SALESPERSON exam at Open Exam Prep. 🎯 This term appears on: REAL-ESTATE-SALESPERSON 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Leasehold definition: https://www.open-exam-prep.com/glossary/leasehold 💡 Exam Tip: Leasehold = possession without ownership (nonfreehold). 4 types: Estate for Years (fixed term), Periodic (auto-renews), At Will (no fixed term), At Sufferance (holdover). Estate for Years ends automatically; Periodic Tenancy requires notice. --- #real-estate #examprep #financeexam #real-estate-salesperson