Freehold

The legal right to hold land/property as the absolute outright owner, free of payment or any other duty owed to another party.

As a freeholder, you can then offer to rent your land/property to parties with whom you'll have a legal agreement. In other words, you may create leaseholders.

Most houses are sold as freehold properties but most flats are sold on a leasehold basis.

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See also: Financial Services, Mortgages