Glossary

The party who grants the lease. There may be layers of landlords. For example the freeholder (who owns the building forever) may grant a lease of the whole building to a leaseholder who may then grant further subleases of the individual flats.

Where there is a lease of the property it is called leasehold property. This means that the property is owned for a set period of time.

A leaseholder is also called a tenant, but this should not be confused with short-term agreements. It is essential to be familiar and understand the terms of your lease because this sets out your rights and obligations.

A lease that was originally granted for a term of more than 21 years.