Leasehold is a type of TENANCY in which a tenant rents land or property from a landlord. The tenant has the right to use the land or property for a specific period of time, usually in exchange for regular payments to the landlord. The tenant also has certain rights and responsibilities under the lease agreement, such as the right to use the property for a specific purpose and the responsibility to maintain the property in good condition. Leasehold is a common form of TENANCY in many countries, and it is often used for residential and commercial properties.