Freehold
The term ‘freehold’ in property law describes the ownership of a property. A freeholder of a property owns the ‘title absolute’ of the property, that is, ownership of the land and any immovable structures attached to it, outright in perpetuity.
The freeholders details will appear on the land registry, and the freeholder is responsible for any maintenance and repair works. Freeholders may also be referred to as 'landlords' or 'lessors'.
A freehold is in contrast to:
- A ‘leasehold’, which describes a lease from the freeholder that enables the leaseholder to use the property for a specified period, after which it will revert to the freeholder. Leaseholders are sometimes also referred to as ‘tenants’.
- A ‘commonhold’, which is a form of property ownership for multi-occupancy properties that enables the collective ownership of the freehold of property.
A leaseholder may be able to purchase the freehold of the property (leasehold enfranchisement). This can be either by agreement with the freeholder, or for houses or flats, can be by right.
A leaseholder may have the right to purchase a freehold if they have owned the lease to a house for at least two years, or, if they own a flat, they may be able to buy it collectively with other leaseholders (see Shelter, Buying the freehold of a house for more information). Leaseholders of flats will also normally have the right of first refusal (RFR) if the freeholder decides to sell the freehold.
Leaseholders are entitled to know the name and address of their freeholder.
Existing leases can also be converted into a commonhold, but this requires the agreement of the leaseholders, landlords and any lenders, which may be difficult to achieve.
[edit] Related articles on Designing Buildings
- Accommodation.
- Buy-to-let mortgage.
- Commonhold.
- Copyhold.
- Housing tenure.
- Land registry.
- Landlord.
- Leasehold.
- Licence for Alterations for Apartment.
- Negotiating a lease.
- Poor drafting of agreements.
- Property guardianship.
- Property ownership.
- Property rights.
- Remortgage.
- Resident.
- Types of building.
- Vacant possession.
- What is an estate?
- What is a mortgage?
[edit] External references
- Shelter, Buying the freehold of a house.
Featured articles and news
Heat pump announcements, what homeowners need to know
An 'ultimate guide to heat pumps' from a heating company.
Construction contract awards reach £7.1bn in February
Their highest level in seven months.
The journey to sustainability in heritage
Research is the key to better understanding.
Heritage approaches to adaptation, mitigation and loss.
Bridging the gap between policy, finance and installation.
Development on brownfield land
Definition, background, policy and the latest consultation.
With the Design Framework for Building Services.
Retrofit of Buildings, a CIOB Technical Publication
Pertinent technical issues, measures and the roles involved.
ECA joins HSE campaign to support mental health
Working Minds’ five simple steps based on risk assessment.
Mental health in the construction industry
Mental health issues in brief with related articles.
Transitional arrangements, Building Control and the BSR.
For pre-October buildings with substantial progress by April.
How to write an inspection and test plan
ITPs for quality control and assurance particular elements.
Why quality counts in domestic ventilation systems
From products, to systems to the installation.
Empowering the Future with CIOB Academy
Lifelong learning, upscaling, and reskilling for the built environment.
Winners of the 2024 ASBP Awards
Project, Product and Initiative according to the 6 pillars.