leasehold

Definition

The right to hold or use property for a fixed period of time at a given price, without transfer of ownership, on the basis of a lease contract. A leasehold is a fixed asset.

Use leasehold in a sentence

You should always know exactly what is needed when you are in a leasehold and stick to it at all times.

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We had a leasehold agreement that would last fora short duration of time, but would be well worth the purchase.

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The leasehold allowed the farm to continue to do business and meet the demand that existed in the market with their supply.

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leasehold improvement noncurrent asset