2006-10-27 19:55:23 · 15 answers · asked by fsatravel 1 in Business & Finance ➔ Renting & Real Estate
Freehold means you can enjoy ownership in perpetuity (for ever). In comparison to leasehold which usually allows you 99, 60, 30 years or less; after which the land owner (which could be the state govt or another enterprise) will take legal possession of it. Freehold is thus more preferable and fetches a higher price.
When you sell freehold land with a house, there are no state consents required when the sale is made. Leasehold property has certain restrictions as stated in the grant papers. These restrictions can vary as who can or cannot buy the property. Moreover, leasehold take longer to dispose because of the time it takes for the paperwork to be completed.
2006-10-27 20:55:30 · answer #1 · answered by catcher 3 · 8⤊ 0⤋
Freehold Estate
2016-10-05 10:49:12 · answer #2 · answered by elzey 4 · 0⤊ 0⤋
you own the land. So for example you may have the freehold and somebody else has a lease on the property.
they have to get your permission as the freeholder before they carry out any alterations to the property.
If you own both the property and the freehold then great you can do what you like.
The freeholder can claim percentages of any lease transfers etc
2006-10-27 20:31:23 · answer #3 · answered by SunGod 4 · 0⤊ 0⤋
Freehold means that the owner has complete and absolute ownership of the land and all buildings that stand on the land. This gives the owner freedom to do whatever they wish with the property meaning that the freehold property is almost always acquired by purchase and not other means.
2014-03-06 16:46:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
In England it means that you buy the land and the building (or the flat or the house) and you become owner of the whole for ever. If there is a leasehold, you buy the building (flat, house) for a certain amount of time only. The shorter, the cheaper. It is why some people are so filthy rich in England, they have been selling the leasehold of their building for many generations and always keeping the final ownership of the asset in their estate. It is called "extorsion of funds". But it is only MHO.
2006-10-27 20:07:29 · answer #5 · answered by Miss Debout 2 · 0⤊ 0⤋
This Site Might Help You.
RE:
what is the meaning of "freehold" in real estate?
2015-08-06 03:47:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Freehold is land that is yours to keep along with the house. As long as you pay your bills, etc, it can't be taken away from you. Leasehold land on the other hand is land that can be taken when needed for Government use, despite you possibly owning the house resting on it.
2006-10-27 20:05:35 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Freehold means that the property is granted to the name of owner for lifetime.The owner have the full legal right to sell, lease or rent their property as their own decision.
2015-03-15 19:34:53 · answer #8 · answered by Anonymous · 0⤊ 0⤋
freehold estate is similar to or the same as fee simple estate. It means you own real estate and can transfer it.
2006-10-27 20:14:16 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Free hold property is inheritable and there are no restrictions on the right of the property owner to further transfer the property. In a free holder property, there is no encumbrance to the absolute title of the property. Free hold property can be inherited by a legal guardian. A free hold property can be transferred by registration of sale deed.
2014-03-05 21:32:01 · answer #10 · answered by Anonymous · 0⤊ 0⤋