What is a leasehold estate?

A leasehold estate is an interest in real property that is held under the terms of a lease agreement. In Kansas, a leasehold estate is created when a landlord (the “lessor”) grants a tenant (the “lessee”) the right to possess and use the landlord’s property for a certain period of time, usually in exchange for a payment known as rent. During the duration of the lease, the lessee has the exclusive right to use and possess the property. The lessee must comply with all terms and conditions of the lease agreement, and the landlord retains the right to evict the lessee if they fail to do so. The leasehold estate is typically limited in duration, and the tenant will have to surrender possession of the property when the lease expires. Depending on the terms of the lease, the lessee may have the option to renew the lease or purchase the property.

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What is a leasehold estate?

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