What’s the difference between freehold and leasehold? Conveyancing and Property
The freeholder of a property owns the property and the land it is built on outright. With leasehold, you own the property and land for the length of the lease agreement. When the lease ends, ownership returns to the freeholder, unless you can extend the lease. If you have a leasehold property with less than 80 years remaining, extending the period of your lease is likely to increase the value of your property and make it easier to sell.
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Conveyancing and Property