Definition of freehold
Noun
freehold (plural freeholds)
- The tenure of property held in fee simple for life
Further reading
Freehold (English law)
In English law a freehold (also called frank-tenement and franktenement) refers to the ownership of real property, being the land and all immovable structures attached to such land. This is opposed to a leasehold in which the property reverts back to the owner of the land after the lease period has expired.[1] Immovable property includes land and all that naturally goes with it, such as buildings, trees, or underground resources, but not such things as vehicles or livestock (which are movable).
For an estate to be a freehold it must possess two qualities: Immobility (property must be land or some interest issuing out of or annexed to land); and ownership of it must be of an indeterminate duration. If the time of ownership can be fixed and determined, then it cannot be a freehold.[2][3]
See also
References:
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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