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 Post subject: Leasehold
PostPosted: Fri Apr 17, 2009 3:05 pm 
Spider Lady
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Joined: Thu Mar 01, 2007 9:23 pm
Posts: 8053
Location: Staffordshire
Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time. As lease is a legal estate, leasehold estate can be bought and sold on the open market and differs from a tenancy where a property is let on a periodic basis such as weekly or monthly. Until the end of the lease period (often measured in decades; a 99 year lease is quite common) the leaseholder has the right to remain in occupation as an assured tenant paying an agreed rent to the owner. Terms of the agreement are contained in a lease, which has elements of contract and property law intertwined.

http://en.wikipedia.org/wiki/Leasehold_estate

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 Post subject: Re: Leasehold
PostPosted: Mon Apr 20, 2009 1:27 am 

Joined: Tue Mar 20, 2007 1:27 am
Posts: 269
Location: Canada
Three-life leases were common in the north of England, and I have come across this in a will of my Chadwick family of 1786. The leaseholder named three persons, usually family members, but not necessarily of different generations, and the first named would take over the lease at the leaseholder's death. Another name would then be added to the remaining two 'lives.'

Joan


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