A property that is leased from the freeholder for a set number of years. A person may buy an apartment with a lease of 100 years. After 100 years it must be given back to the freeholder. Note the leaseholder can, in some circumstances, force a lease extension to stop this happening. The lease can be sold to another party, hence the term, 'this property is leasehold'. Most apartments are leasehold but some houses are as well.