freehold

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Freehold

A life estate, an interest in land the duration of which is restricted to the life or lives of a particular person or persons holding it, or an estate in fee, an interest in property that is unconditional and represents the broadest ownership interest recognized by law.

In order to be categorized as a freehold, an estate must possess the characteristics of (1) immobility—in the sense that the property must be either land, or some interest derived from or affixed to land—and (2) indeterminate duration.

Determinable freeholds are life estates created by language that provides that the estate is to terminate automatically upon the occurrence of a specified event.

freehold

n. any interest in real property which is a life estate or of uncertain or undetermined duration (having no stated end), as distinguished from a leasehold which may have declining value toward the end of a long-term lease (such as the 99-year variety). (See: leasehold)

freehold

noun acres, domain, estate, estate for life, estate in fee, fee simple, feud, fief, hereditament, immune, interest in real property, land, landed estate, landed propprty, life estate, praedium liberum, property, real property, realty, territory, vested interest in land
See also: demesne, domain, dominion, estate, fee, land, leasehold, property, real estate

freehold

originally an estate of free tenure. Nowadays the term is used to denote a legal estate in FEE SIMPLE ABSOLUTE IN POSSESSION, the most complete form of ownership of land.
References in periodicals archive ?
Nicastro said he and Walsh have had several conversations about the issue with the freeholders.
Most leases have a clause stating that alterations must be approved by the freeholder (by them signing a licence to alter), although the lease will probably also say that permission can't reasonably be refused.
When the initial price tag came in at $86 million, county freeholders rejected the bids and returned to the drawing board.
By 1856 the Sammis boys, Silvester and Ebenezer, had regained title to the 200 acres, and then they sold their rights to the lease and became freeholders nearby.
The NJAC Board is comprised of 26 members, 21 of them being freeholders representing each county.
The 2017 program is a continuation of the freeholder boards continuing policy of maintaining and improving the countys high quality road network, according to a release issued by the county.
In return, freeholders have the right to make a "reasonable" charge, basically as compensation for having to wait an extra 90 years to get their property back.
The newest trustee was appointed to the post by the Bergen County Board of Chosen Freeholders and will serve a 20-month term.
One of the county's five conservative Republican freeholders (the equivalent of city council members), John Kelly, maintained that granting partner benefits would "violate the sanctity of marriage.
Applicants can be freeholders or leaseholders, but the latter must have at least 10 years left on their lease.
SOME freeholders are notoriously difficult to track down.
Marina Energy has entered into a partnership with DCO Energy, which signed a 20-year agreement with the Burlington County Board of Freeholders to lease and operate a facility that will produce electricity from landfill methane gas.