freehold


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Related to freehold: freehold property

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 ?
He was unable to borrow funding from other banks at the time to buy the freehold, but four years later NatWest approached Flynn through his accountancy firm to offer business support.
Available freehold at pounds 60,000, the property offers two-storey accommodation with basement storage and adjoining land.
Ajman: The Ajman Naturalisation and Residency Department has stopped issuing and renewing investors' visas for freehold property owners in Ajman, Gulf News has learnt.
Joint administrator David Ackland said the court was asked to make an order that the freehold should be vested in the football club.
Threadneedle was so impressed by the location and quality of Rabone Park that it also acquired the freehold in Unit 2, of 35,000 sq ft, from which it will create its own investment and has retained Lambert Smith Hampton and Chesterton to market it.
Last year's poor performance by the Stock Exchange has put freehold property investment firmly on the business agenda as a means of controlling long term overheads and boosting company pension funds.
As the leases expire, ownership of the homes passes to whoever owns the freehold.
Located at a four-way interchange of Route 33 and Halls Mill Road, Monmouth Executive Center contains such amenities as private entrances, separately metered utilities and private signage, easy access to Routes 9 and 18, the New Jersey Turnpike and the Garden State Parkway and close proximity to CentraState Medical Center, Freehold Raceway, the Freehold Mall and the Monmouth County Courthouse.
The 1,685 sq ft freehold property, which Currys vacated to move to its current offices in Summer Row, was the subject of a successful back-to-back deal, with the sale of the freehold to Greencourt for pounds 290,000.
There are many other benefits to freehold ownership according to Bob Tattrie, managing director for Alfred McAlpine Developments.
CentraState Medical Center located in Freehold, serves Monmouth, Ocean, Mercer and Middlesex counties in New Jersey.
If there are reasons why you wish to purchase the freehold you should see a solicitor, but I imagine the overall cost will not be that much different from the inflated figure you have been quoted.