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landlord and tenant
(redirected from Leasehold estate)

   Also found in: Dictionary/thesaurus, Legal, Financial, Wikipedia 0.01 sec.

landlord and tenant

Parties to the leasing of real estate, whose relationship is bound by contract. The landlord, or lessor, is the owner; the tenant, or lessee, supplies payment in order to enjoy possession and use of the property for a specified period. Important forms of tenancy include tenancy for a fixed period, periodic (seasonal) tenancy, tenancy at will, and holdover tenancy (whereby a tenant remains after the contract has ended). See also real and personal property, rent.



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THE International Accounting Standards Board (IASB) is presently seeking comments on its discussion paper issued earlier this year that recommended putting all leases on-balance sheet, rather than just leases currently classified as finance leases For analysts and investors the proposals are likely to be welcomed, but for occupiers of property leases, particularly those with large leasehold estates and with long average lease lengths the proposals are not so welcome.
A stipulation that the lessee may encumber its leasehold estate (use it for collateral when obtaining financing) without having to obtain the landlord's consent.
The proposed definition applies equally to the fee simple estate of an industrial building in Topeka, to the leasehold estate of a service station in Cincinnati, and to the leased fee estate of strip stores in Little Rock.
 
 
 
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