The assets which are being leased can be termed as leasehold. The asset is generally an immovable property that includes a building or a space in the building. While leasing a property a contract is signed between the lessee and lessor which contacts information such as a series of scheduled payments which is to be paid during the lease. When a company rents a building for an office or retail store they need to sign a commercial leasehold agreement. Now, we all wonder who is the landlord of a leasehold property.
This is quite an interesting question! If you lease a property you will have the right to acquire the property for the agreed-upon time period. You will need to sign a contract with the landlord (known as the freeholder) which is known as a lease. This legal agreement states how long you will own the property as soon as you become the lesser of the property.
The rights to acquire the property return after the legal agreement expires. Many flats and houses are also leased in different parts of India.
Therefore, somebody who owns the property is the landlord of the leased property. Freehold is a kind of ownership where a person or organisation possesses ownership rights forever of the immovable property.
I hope you now know who is the landlord of a leasehold property.
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Who is the landlord of a leasehold property?
Astha
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2021-12-31T16:39:44+00:00 2022-01-03T14:11:18+00:00Comment
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