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 ?
According to MP Gareth Thomas, around 30 properties were sold on the new Harrow View West site on a leasehold basis, but subsequent properties on the site were sold as a freehold, often for the same price or even less.
Alok Sharma, the Minister for Housing and Planning, said officials from the Department for Communities and Local Government would contact the Mary Magdalene and Holy Jesus Trust to find a way for the leases to be extended or the freeholds to be sold.
On September 29, 1920, Huddersfield Corporation bought all the freeholds which had been owned by the Ramsden family for 300 years for pounds 1.
This general shortage of ready to go sites and lack of second hand stock will see industrial and distribution rents and freehold values climb steadily in 2011, providing an opportunity for landlords and developers who can quickly bring the right sites and stock to market to meet the demand," said Mr Dillon.
This week it secured a deal that will increase its freehold estate, which was recently valued at 8.
But because he can't find out who holds the freehold on the land his house at Carlton Close, Ouston, is built on, solicitors will not allow the buyer to complete.
By following the freehold as opposed to the leasehold route, companies will gain a valuable asset in the long term and any capital not spent on rent can be reinvested into the business.
It's part of an ongoing plan to sell their freehold assets.
The Peach group of pubs has bought the freehold of two of its most popular pubs in a deal worth nearly pounds 3 million.
Now landlords who have bought the freehold to the properties are demanding occupiers pay ground rent, or buy the freehold at a cost of thousands of pounds.
HBG Properties sold the freeholds in units 2 and 6 at the 152,000 sq ft industrial and distribution scheme to investment fund Threadneedle.