leasehold

Leasehold is a kind of property interest. A lease between a landlord and a tenant creates both a contractual interest and a property interest, the property interest here is called leasehold.

Leasehold is the presumption in the law that the lessee and lessor of the lease are protected even the lease is silent in some areas. For example, the landlord must make sure the real estate be habitable. Even if this is not included in the lease, if the real estate becomes inhabitable, the landlord offends the tenant’s leasehold. The tenant can sue the landlord and ask for remedies. However, if the lease specifically alters the presumed interests, the lessee and lessor should follow the lease.

[Last updated in July of 2020 by the Wex Definitions Team]