Property Condition
Freehold
Outright ownership of property and land
Full Definition
Freehold ownership means owning both the property and the land it sits on in perpetuity. No ground rent or lease concerns apply. Most houses are freehold while most flats are leasehold. Freehold properties are generally simpler investments with fewer ongoing obligations to third parties.
Related Terms
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Analyse a PropertyMore Property Condition Terms
Leasehold
Ownership of property for fixed term from freeholder
Lease Extension
Adding years to a leasehold property's remaining term
Property Survey
Professional inspection of property condition
Refurbishment
Renovating property to improve condition and value
Forced Appreciation
Increasing property value through improvements