what is freehold land

what is freehold land

1 year ago 37
Nature

Freehold land refers to a type of ownership of real property or land, where the owner has complete control over the property and the land it stands on outright, in perpetuity. The owner of a freehold property has the right to use it for any purpose, in accordance with the regulations of where the freehold is located. Freehold land is in contrast to leasehold land, where the property reverts to the owner of the land after the lease period expires or otherwise lawfully terminates).

Here are some key points about freehold land:

  • A freehold estate is a type of real property that comes with indefinite ownership, which can be passed on forever.
  • For an estate to be a freehold, it must possess two qualities: immobility (property must be land or some interest issuing out of or annexed to land) and ownership of it must be forever ("of an indeterminate duration") ).
  • Freehold land title refers to a freehold property title by which the owner of the freehold land owns it for perpetuity (free from hold) .
  • The sale of a freehold property requires significantly lesser paperwork, as it is not necessary to request authorization from the state.
  • Freehold land is easy to sell, as the ownership lies with the actual owner.

In summary, freehold land is a type of ownership of real property or land where the owner has complete control over the property and the land it stands on outright, in perpetuity.

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