Tenure

Definition

• The means, process, duration, or right of holding something such as the title of real property and conditions by which the property is held.

Synonyms
possession, occupancy, ownership, tenancy

Related Terms and Acronyms

• Holding Period — Definition,
  • The length of time a capital asset is owned. Assets held 12 months or less are short-term; those owned more than 12 months are long-term properties.
• Joint Tenancy — Definition,
  • When two people (typically spouses) both own an undivided interest in a property. If one joint tenant passes away, the other receives the title to the entire property.
• Leasehold Mortgage — Definition, Important,
  • A mortgage given by a lessee on the security of his leasehold interests in the land.
• Mortgage Application — Definition, Very Important,
  • A document in which a prospective borrower details his or her financial situation to qualify for a loan.