freehold
Freehold (noun) means Outright ownership of a property and the land it stands on, for an unlimited period and with no ground rent payable to a landlord. Example: “The house is sold freehold, so there is no lease to renew.”
How to Use Freehold
Learner’s notesIn plain EnglishYou own the building and the ground under it, forever.
A legal and estate-agency term used mainly in England, Wales, Northern Ireland, Ireland, Australia and New Zealand. Scotland's system uses different terminology, and the American equivalent is fee simple.
"Share of freehold" is a middle option: you hold a lease but also own a stake in the company that owns the building's freehold.
Trace the full origin ↓Fill the Gap
Can you complete this real example?
The house is sold _____, so there is no lease to renew.
Etymology
From free plus hold, translating the Anglo-Norman legal term for land held without obligation of service to a lord.
Synonyms
View more →Antonyms
Rhymes for freehold
See all rhymes for freehold →Frequently Asked Questions
What is the difference between freehold and leasehold?
With a freehold you own the property and its land indefinitely and are responsible for maintaining it. With a leasehold you own the right to occupy the property for a set number of years, usually pay ground rent and service charges, and the building and land revert to the freeholder when the lease expires.
Is freehold better than leasehold?
Generally yes for a house, because there are no lease terms, ground rent or diminishing value as a lease shortens. For a flat in a shared building some form of lease or commonhold arrangement is normal, since communal parts need collective management.
Can you buy the freehold on a leasehold property?
Often, yes. In England and Wales, leaseholders of houses and groups of flat owners have statutory rights to buy the freehold or extend the lease, subject to qualifying conditions. The process is called enfranchisement and usually needs a solicitor and a valuation.