A Leasehold Interest refers to the legal right acquired by an individual or corporate entity to use a property over an agreed period. It is an official claim obtained through a lease arrangement to use an asset. In business valuation, a leasehold interest qualifies as an intangible asset because they can be recognised, identified and the associated economic value accurately measured. Intangible assets are a class of assets without physical form (such as a building) which hold value to the owners. Business valuators estimate the fair market value of a leasehold interest by applying techniques under the cost method, market, and income methods.