Leasehold interest

{
  "id": "MLC-T-INS-001978",
  "term": "Leasehold interest",
  "field": "Insurance and risk management",
  "definition": "The financial interest a tenant has in a leased property, representing the value of the lease agreement if the tenant's rent is less than the current market rate. If the property becomes unusable due to a covered peril, leasehold interest insurance can compensate the tenant for the loss of this favorable lease. This coverage protects against the financial disadvantage of having to lease a new, more expensive location.",
  "url": "https://mlchart.com/terminology/insurance/leasehold-interest/"
}