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leasehold |
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leaseholdIn law, land or property held by a tenant (lessee) for a specified period (unlike freehold, outright ownership), usually at a rent from the landlord (lessor). How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Tucked deep into the law is a provision that extends for two years--until December 31, 2007 -the accelerated 15-year depreciation on qualified leasehold improvements. Prior to the AJCA, if a leasehold improvement constituted an addition or improvement to nonresidential real property already placed in service, the improvement was depreciated using the straight-line method over 39 years, under Sec. Such financing is typically secured by a leasehold deed of trust or mortgage. |
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