A Lease Fee occurs when a property owner leases his property to another.
Generally, the owner has all the rights of ownership except possession which was given up by leasing the property. The owner's rights in a leased fee are:
|•||Right to rental income|
|•||All normal rights in the bundle of rights except the right to possess (occupy) the property which have been given to another in return for rent payments|
If an owner exercises one of his rights such as selling or optioning the property the leasehold is not affected.