A property held under a lease, typically for a fixed period of time. The couple purchased a leasehold on the apartment for 99 years.
The interest or right of a tenant to use and occupy real estate for a specified period under a lease agreement. The leasehold gave the company the right to operate on the land for 20 years.
The remaining term or duration of a lease. Only ten years remain on the leasehold, which makes it harder to obtain a mortgage.