leasing

leasehold estate

A leasehold estate is a nonfreehold interest in real property that gives a tenant the right to possess and use the property for a period of time under a lease, while the landlord keeps ownership and a reversionary interest. The four main types are the estate for years, periodic tenancy, tenancy at will, and tenancy at sufferance. Leasehold estates are generally treated as personal property rather than real property ownership.