Real Estate Term
Leasehold
A form of property ownership where you own the building but lease the land it sits on.
What is Leasehold?
Leasehold ownership means you own the building or unit but lease the land it sits on from another party for a set term, paying ground rent. Because the land is leased, the length remaining on the lease affects the property's value and how easily it can be financed. It contrasts with freehold, where you own the land outright.
Frequently asked questions
Related terms
FreeholdA form of property ownership where you own both the building and the land it sits on.TitleLegal ownership of a property.Land Transfer TaxA tax paid to the provincial or municipal government when property ownership changes hands.LienA legal claim against a property, often used as security for a debt.ListingA property that is available for sale, marketed through a real estate brokerage.Listing AgentThe real estate agent who represents the seller in a property transaction.
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