Definition, Meaning & Synonyms
freehold
noun
/ˈfriːˌhoʊld/
Definition
A type of property ownership that provides the owner with full rights to the land and any buildings on it for an indefinite period of time.
Examples
- They purchased a freehold property in the countryside.
- Living in a freehold home allows for greater freedom in making renovations.
- A freehold estate can be passed down to heirs without restrictions.
Meaning
Freehold refers to a form of land tenure where the owner has outright ownership of the property and the land it is built on, unlike leasehold, where ownership is temporary and restricted.
Synonyms
- Ownership
- Fee simple
