Meaning of the word leasehold in English

What does leasehold mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

leasehold

US /ˈliːs.hoʊld/
UK /ˈliːs.həʊld/

Noun

the holding of property by lease

Example:
Many apartments in the city are sold as leasehold properties.
The building is under a 99-year leasehold.

Adjective

held by lease

Example:
The apartment is a leasehold property, not freehold.
They are looking to buy a leasehold flat in central London.