leasehold interest

  

Definition

Claim or right to enjoy the exclusive possession and use of an asset or property for a stated definite period, as created by a written lease. A long-term lease interest is a valuable asset in its own right which can be traded or mortgaged as a physical asset.

Use leasehold interest in a sentence

  • You should make sure that you know what all is entailed in the leasehold interest and make sure to follow it closely.

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  • The woman sat down to dinner explaining to her husband the nature of the leasehold interest regarding their former business, being another asset to the company she runs now.

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  • The leasehold interest was of considerable value to the attorney who highlighted several interesting clauses in the contract we signed.

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