(UK, property law) The difference in value between a leasehold interest in land and the hypothetical value of its reversionary interest were the leasehold to be determined, which typically increases as the leasehold draws towards its end; frequently considered the market value chargeable to the tenant for a long extension of the leasehold, or for the purchase of the reversionary interest.
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Regional slang from around the English-speaking world — British, Australian, Irish, Caribbean, Nigerian, Filipino, AAVE, and the hyphenated-English dialects that make the internet sound local.
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