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Leasehold Estates refer to commercial properties where the tenant has the right to occupy and use the property for a specific period, as outlined in a lease agreement with the property owner. The tenant does not own the land or buildings but pays rent to use them. This arrangement is common in commercial real estate sales and can be found within retail real estate as well. Leasehold Estates provide businesses with flexibility and cost savings compared to purchasing property outright, making it an attractive option for companies looking to establish a presence in a particular location without the long-term commitment of ownership.