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- April 4, 2025
- Building, Land Banking, Real-estate
- 40 Seconds
WHAT IS A “FREEHOLD’ IN LANDED PROPERTIES?
When discussing land ownership, “freehold” refers to a type of ownership where you have complete and indefinite ownership of both the land and any structures on it.
HERE IS A BREAKDOWN:
1: COMPLETE OWNERSHIP:-
•This means you own the property outright, including the land it stands on.
•You have full control over the property and can make changes to it (within local planning regulations).
2: INDEFINITE DURATION:-
• Unlike leasehold, there’s no time limit on your ownership.
•The property is yours until you choose to sell it.
•It can also be passed on to your heirs.
3: RESPONSIBILITIES:-
•As a freeholder, you’re responsible for maintaining the property and the land.
•You won’t have to pay ground rent to a landlord.
In essence, freehold ownership provides the greatest level of control and security over a property.