Can you explain freehold in simple terms?

Buying freehold means buying both the building and the land. You own both outright, and are responsible them. There is no limit to the time on your ownership. What does it mean? James Compton · 28/05/2024 · Blog, Leasing Property, News · buying house, Comptons Solicitors, English Law, freehold, ... Currently such ... Feb 28, 2023 ... Freehold property is the most common ownership type of property in New Zealand. In a nutshell it means you own the property and the land ... Mar 14, 2023 ... Simply put, the freehold strata meaning is a living space (and the property on which it sits) that is owned by the same entity. A freehold is an estate in land that is not limited in time. It may be brought to an end only by escheat. A freehold, in common law jurisdictions or Commonwealth countries such as England and Wales, Australia, Canada, Ireland, India and the United States, is the ... A Freehold Going Concern is the freehold property (including buildings) and the business operating on that property. The same party would own the land and ... A share of freehold means you own the leasehold for your flat while also jointly owning the freehold for the building with other flat owners. If you own the freehold interest in land or property then for most intents and purposes, you are the 'owner' of the property and everything above and below it. Oct 26, 2024 ... Comments Section ... Freehold is a term in land law that means the possessor of the land holds it forever, or until they sell it. In Old Valyria, ...