Long Leasehold

A long leasehold refers to a tenant's right to occupy and use a property for an extended period, typically between 99 to 999 years, as specified in a lease agreement. Although the legal ownership of the property remains with the freeholder (landowner), the leaseholder has the right to enjoy the premises under agreed terms. Once the lease expires, ownership reverts to the freeholder unless the lease is renewed. Long leasehold properties are common in self-contained flats or apartments, and lease terms significantly influence the property's value and the responsibilities of the leaseholder.