What is a leasehold estate?

A leasehold estate is a type of real estate ownership in Florida. It is a legal arrangement in which a person, typically the lessee, gains the right to use a property for a stated amount of time. The lessor, or property owner, retains the title to the property. The leasehold estate is limited in rights and subject to the terms of the lease agreement. Generally, the right of use is limited to the term of the lease and cannot be sold or transferred to another individual. Additionally, the lessee has no claim to the property after the expiration of the lease. Leasehold estates are common in Florida. They are often used to allow businesses to rent a space temporarily or for long-term residential housing arrangements. When a lessee desires to own the property outright, a lease-to-own option may be available. In Florida, a leasehold estate can be terminated by either the lessor or the lessee. Termination can be due to the expiration of the lease or through mutual agreement of the parties. If the property is sold by the lessor, the lessee may be required to vacate the premises. Finally, if the lessee violates a terms of the lease, the lessor may have the right to terminate the leasehold estate.

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What is a leasehold estate?

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