Which of the following best describes "alienation" in leasehold management?

"Alienation" in leasehold management refers specifically to the transferring of leaseholders' rights or interests. This process can occur when a lessee sells or transfers their lease to another party, which can include subletting or assignment of the lease. Understanding alienation is crucial for managing leasehold agreements effectively, as it impacts both the original leaseholder's rights and the incoming party's obligations according to the lease terms.

Renewing a lease agreement is a separate process that typically involves extending the duration of the lease. Converting leasehold to freehold is another distinct legal action unrelated to alienation but represents a change in ownership status. Implementing changes to service charges pertains to financial management within a leasehold arrangement and does not align with the concept of alienation, which focuses on the transfer of rights rather than the administrative or financial changes specific to lease management.

Thus, the definition of alienation is rooted in the real estate and property management fields as it pertains to the transfer of interests, making the understanding of this term essential for anyone involved in leasehold management.