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 ?
But his informant has a very eccentric interpretation of our proposal to raise money by being prepared to sell the freehold interests it owns of the villas around the Park, which are on long leases.
Huddersfield freeholds have an interesting history, which has been well documented in the book The Town That Bought Itself.
Southern Cross had 20 freehold properties with a book value of pounds 46.
Well, while it's undeniable that it can complicate matters, and your solicitor will certainly want to check it out very thoroughly indeed, the fact is that most of the difficulties associated with flying freeholds are easily surmountable - for example, by taking out indemnity insurance.
Acquiring the two freeholds from pub group Punch will open new trading opportunities for the non-food side of the business and let it expand further, it said.
Sainsbury's has secured the freehold rights to one of its supermarkets this week in a further rebuff to property entrepreneur Robert Tchenguiz's attempts to split the company into an opco/propco operation.
It is thought at least a dozen other properties in the village have same problem, as their freeholds are listed as belonging to William Leech (Investments), while the company says that it knows nothing about them.
There are many other benefits to freehold ownership according to Bob Tattrie, managing director for Alfred McAlpine Developments.
It's perfectly legal:A shareholder of one of the firms that has bought and sold freeholds in South Wales last night defended the practice.
HBG was prepared to put its money where its mouth was and speculate, rather than waiting for design and build opportunities, and this approach has paid off, particularly as HBG Properties was prepared to sell the freeholds,' said Chris Cocks, an associate director of Chesterton.
Various pub companies are aggressively targeting freehold pubs with barrelage in excess of 200 barrels per annum, therefore it makes it very difficult for individual buyers to firstly find a freehold available and secondly to out-bid the pub companies.
Lambert Smith Hampton's Birmingham-based industrial team has sold a record pounds 25 million-plus worth of freehold property and land in less than three months.