A type of tenure where real estate is held under a lease is referred to as what?

The correct answer is leasehold, which refers to a type of real estate tenure where an individual or entity holds an interest in a property through a lease agreement. This arrangement allows the lessee (the tenant) the right to use and enjoy the property for a specified time period, as determined by the lease terms, while the lessor (the property owner) retains ownership of the property itself.

In contrast to freehold, which indicates full ownership of a property and the land it sits on, leasehold delineates a situation where the lessee's rights are limited to the duration of the lease. This can include rights to occupy, utilize, and profit from the property, but these rights cease once the lease period expires.

Understanding this distinction is crucial in real estate, as leasehold interests can significantly influence property value, rights, and responsibilities. Furthermore, leasehold agreements typically involve restrictions and conditions that must be adhered to, differing from the more permanent and unrestricted nature of freehold ownership.

With the other terms, ownership typically refers to a complete and indefinite claim to property, property rights encompass a broader legal framework of interests in property, and freehold indicates outright ownership without time limitations, further distinguishing them from leasehold's specific context of