Freehold property is a type of real property ownership where the owner has complete and indefinite ownership of the land and any buildings on it). 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 property is in contrast to leasehold property, where the owner of the land retains ownership and the property reverts to the owner of the land after the lease period expires or otherwise lawfully terminates).

To be considered a freehold, an estate 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")). If the time of ownership can be fixed and determined, it cannot be a freehold).

Benefits of owning a freehold property include complete control over the property, no further payments to make, and no restrictions regarding time, visitors, and the like. However, the owner of a freehold property is responsible for maintaining the property and land, so they will need to budget for these costs.

In summary, freehold property is a type of real property ownership where the owner has complete and indefinite ownership of the land and any buildings on it, in contrast to leasehold property where the owner of the land retains ownership.