What is a leasehold estate?

A leasehold estate is a type of real estate interest in California. It is a way for someone to have a legal right to use a property for a set period of time. In a leasehold estate, one party, generally referred to as the tenant or lessee, pays a landlord or lessor to occupy and use the property. The tenant has the right to possess and use the property, but they do not own the property outright. The lease agreement outlines the rights and duties of both the tenant and landlord and establishes the period of time in which the tenant has the right to use the property. The lease agreement may also include other details such as the payment amount and payment frequency, occupancy limits, and other restrictions. At the end of the lease period, the tenant generally has to vacate the property unless a new agreement is drawn.

Related FAQs

What is the difference between a lien and a security interest?
What is the difference between a condo and a cooperative?
What is adverse possession?
What are the laws governing the leasing of real estate?
What is a deed in lieu of foreclosure?
What type of claims can I make against a real estate broker?
What is a deed of trust?
What are the laws governing real estate brokers?
What is a boundary line dispute?
What is a right of first refusal?

What is a leasehold estate?

Related FAQs

Related Blog Posts