Freehold (law)
In certain jurisdictions, including England and Scotland, a freehold (also called frank-tenement and franktenement) is 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 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..
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[edit] Additional explanations
A substantial freehold means a "large" holding.
[edit] See also
[edit] Notes
- ^ Roberts, Chris (2006). Heavy Words Lightly Thrown: The Reason Behind Rhyme. Waterville, Me.: Thorndike Press. ISBN 0-7862-8517-6.
[edit] External links
- Lease Extension or Freehold Purchase? An Introduction—Further information on freehold purchase and lease extension under UK law
