What does Leasehold Interest mean? Read on to discover the definition & meaning of the term Leasehold Interest - to help you better understand the language used in insurance policies.
Property insurance covering the loss suffered by a tenant due to termination of a favorable lease because of damage to the leased premises by a covered cause. The principal coverage is the net leasehold interest, which is the present value of the difference between the total rent payable over the unexpired portion of the lease and the total estimated rental value of the property during the same period.
We hope the you have a better understanding of the meaning of Leasehold Interest.