Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given length of time. A lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and thereafter held for an indeterminate length of time, also differs from a tenancy where a property is rented/leased on a periodic basis such as weekly or monthly.
Until the end of the lease period 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.
We have appraised various leasehold properties throughout California and are familiar with how these properties are traded in the market. We have dedicated commercial appraisers focused on this specific property type. Please contact us for any leasehold appraisal services.