Definitions for "Leasehold interest"
The interest of one holding as grantee or lessee under an oil and gas lease or lease of oil, gas and other minerals. Such interest includes the right on the part of the lessee to drill and produce, and is subject to the payment to the lessor of a royalty of a stated fraction or percentage of the production, free of operating expense, either in kind or at the prevailing price at the time of production.
The interest which the lessee has in the value of the lease itself in condemnation award determination. The difference between the total remaining rent under the lease, and the rent lessee would currently pay for similar space for the same time period.
The estate and interest a lessee has in real property that was created by a lease.