LEASEHOLD INTEREST
\lˈiːshə͡ʊld ˈɪntɹəst], \lˈiːshəʊld ˈɪntɹəst], \l_ˈiː_s_h_əʊ_l_d ˈɪ_n_t_ɹ_ə_s_t]\
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Exclusive claim or right to a time-limited-time owning and using a land parcel or other asset. Contrast to a freehold interest; it is for an undetermined period. Agreed-to by written lease. A valuable asset on its own as it can be traded or mortgaged like a physical asset.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.