Leasehold

What is a leasehold? 

A leasehold refers to the right to use a land or building for a long-term period without owning it outright. Instead, the property remains owned by another entity, often a government or private landlord. 

How is a leasehold different from a freehold? 

A leasehold means you have the right to use the property for a set period while not actually owning the land outright. However freehold ownership refers to you owning the property and the land it sits on outright with no time limit. 

How long are leasehold agreements? 

Considering that leaseholds are agreements more suited for long-term periods, leaseholds typically have a minimum of 12 months. The average leasehold can last several decades and can go as far as 999 years.