Freehold

A freeholder owns the property indefinitely and can generally use, sell or pass it on as they wish, subject to the law, planning rules and any restrictions recorded on the title.

In England and Wales, most houses are sold as freehold, while most flats are sold as leasehold, with the freehold of the building held by a landlord, a management company or the flat owners collectively. In many other countries, outright ownership is the normal form for houses, and apartments are held through arrangements such as strata title or condominium ownership.

For example, a buyer of a freehold house owns both the building and the land, does not pay ground rent and is responsible for all maintenance and repairs.

Freehold is generally seen as the most secure and flexible form of property ownership. However, some freehold homes on new estates are subject to estate management charges for shared areas. Buyers should check the tenure of any property carefully, since it affects costs, rights and future saleability.