A leasehold is a type of property that is leased to a buyer instead of being sold outright to them. Common outside of the United States (but found in Hawaii), leaseholds give the lessee the right to occupy a property for a certain time period. In this way, it's similar to a rental property, except that leaseholds usually have much longer terms (decades).
This document is a community edited guide, is not legal advice, and is subject to changes, modifications, and may contain inaccuracies or out-of-date information. As with any important financial transaction, consult a real estate professional and/or an attorney. See our terms of service for more information.