What is the difference between freehold & leasehold property ?

Answer 1

As I understand it, with freehold you own the land the property sits on as well as the property, with leasehold the land belongs to someone else therefore you can only lease the property.

Answer 2

If its real estate your talking about I have never hear of free hold. I believe the term is fee simple. The difference between leasehold and fee simple is . With a lease hold type of property you own the house but not the land. Most lender are not going to do this type of financing unless there are special circumstances, like the land lease will last throughout the life of the loan. This is not the best kind of deal to find yourself into because your lease on the land can expire and you would have to take the house up off the land and move it else where if its not renewed. Fee simple is just the oposite you own the land and the house thats situated on it.

Answer 3

Freehold - outright ownership of a property. This type of tenure contrasts with leasehold where the leaseholder has the rights to occupy a property for a specified period of time.

Lease - a contract by which an owner of property conveys exclusive possession and use of it for a specified rent and for a specified period - after which the property reverts to the owner.

Answer 4

Freehold is real estate term indicating a fee simple ownership, while leasehold refers to leased property. Both apply to a piece of real property.

Answer 5

Freehold - u r the absolute owner u just have to pay the current expenses related to the property.

Leasehold - The above + a fixed monthly/yearly charge to the (seller) owner till the time u occupy or till the lease does not get over.

Answer 6

What you own is freehold and what you enjoy is leasehold!