ABSTRACT
A leasehold estate gives a right to possession, use and enjoyment of land for a definite period of time, for example, one month, one year, 21 years, 99 years or any other certain period. A leasehold may be carved out of a fee simple, so that the fee simple owner becomes the lessor (landlord) of the lessee (tenant); a leasehold may also be carved out of a leasehold, in which case the leaseholder becomes the sublessor (landlord) of the sublessee (subtenant).
