GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Tenure


Synonyms:occupancy, ownership, possession, tenancy
Filed Under: real-estate
Tags: realty
 

Definition of tenure

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

Related Terms and Acronyms:

  • holding period   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   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   A mortgage given by a lessee on the security of his leasehold interests in the land.
  • mortgage application   A document in which a prospective borrower details his or her financial situation to qualify for a loan.

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