LEASEHOLDER Meaning and
Definition
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A leaseholder is an individual or entity that holds a lease or rental agreement for a specific property, often referred to as the tenant or lessee. They have the legal right to occupy and use the property for a predetermined period, typically outlined in the lease agreement. A leaseholder is granted certain rights and responsibilities by the terms of the lease, which can include the length of the lease, the amount of rent to be paid, the condition of the property, and any specific conditions or restrictions.
As the leaseholder, one is obligated to adhere to the terms and conditions outlined in the lease agreement, such as paying rent on time, maintaining the property's state, and refraining from activities that may violate the terms of the lease. Leaseholders are entitled to the use and enjoyment of the property during the lease term, but they do not have ownership rights.
In many cases, leaseholders have the option to renew their lease agreement or negotiate the terms for a new lease once the initial agreement expires. However, leaseholders may also choose to terminate the lease early, subject to any penalties or conditions specified in the lease agreement.
The relationship between a leaseholder and the landlord or property owner is often regulated by local rental laws and regulations. These laws aim to protect both parties' rights and ensure a fair and mutually beneficial tenancy.
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Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Common Misspellings for LEASEHOLDER
- leaseholde
- keaseholder
- peaseholder
- oeaseholder
- lwaseholder
- lsaseholder
- ldaseholder
- lraseholder
- l4aseholder
- l3aseholder
- lezseholder
- lesseholder
- lewseholder
- leqseholder
- leaaeholder
- leazeholder
- leaxeholder
- leadeholder
- Lesheholder
Etymology of LEASEHOLDER
The word "leaseholder" is derived from Old English and is a compound of two words: "lease" and "holder".
The term "lease" originates from the Old English word "lǣs" or "læs", which means "lease, letting, or contract". It can be traced back to the Proto-Germanic word "lahsijo", meaning "a contract or letting of land".
The word "holder" derives from the Old English word "healdan", which means "to hold or possess". This term is related to the Proto-Germanic word "haldaną" with a similar meaning.
Therefore, when combined, "leaseholder" refers to a person who holds or possesses a lease, which is a contractual agreement that allows an individual or entity to use a property, land, or premises for a specified period of time.
Similar spelling word for LEASEHOLDER
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