Short Leasehold

A short leasehold refers to a situation where you own the right to occupy and use a property for a limited period, typically less than 80 years, as specified in the lease agreement. After the lease expires, ownership of the property reverts to the freeholder or landlord unless you extend the lease. Short leases can affect the property's value and mortgage availability, so extending the lease or purchasing the freehold can be beneficial for long-term security and investment.