DIFFERENCE BETWEEN FREEHOLD & LEASEHOLD PROPERTY
Leasehold and Freehold are the two forms of legal ownership of a property, whereby freehold property is a property or land, which is owned or inherited for life. As against, when a property is acquired under the lease, it is termed as Leasehold property. When you are buying a freehold property, it means that you are buying it in full for an indefinite length of time, which covers both the land and the property as well.
“A freehold property is a property that is ‘free from hold’ of any entity other than the legal owner, while a leasehold property is a property a lessee or tenant contracts to rent from a lessor over an agreed-upon time.”……
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