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long lease

noun
1.
(in England and Wales) a lease, originally for a period of over 21 years, on a whole house of low rent and ratable value, which is the occupants' only or main residence. The leaseholder is entitled to buy the freehold, claim an extension of 50 years, or become a statutory tenant
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
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