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What does freehold mean when buying a house?

Where can I find out what a freehold is? Is there a difference between a freehold and leasehold?

Asked on Jun 15 2016, General in Ipswich | Report content

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  • Hi there, A freehold is when you have the rights to a piece of land and the property on it. A leasehold is when you're given rights to use the property on the freehold for a set period of time, though the freeholder still has the land rights, and full ownership reverts to them once the leasehold expires. Many thanks, Dan

    Answered on Jun 16 2016, Report content
  • Freehold means you own the whole property including the land it stands on forever. In simple terms Leasehold means you have a very long —in practice, near perpetual— rental on the building (or more usually an apartment in it) but do not own the ground on which it stands

    Web reference:

    Answered on Jun 16 2016, Report content

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