What does Freehold mean?

Freehold is when there exists total ownership over a property, meaning that you are the rightful titleholder of it and no one has the right to make any claims towards it. Being a freeholder it means you have got a freehand in selling or renting the respective property, based on contractual agreements with third parties.

You may either sell the property as a freehold, thus giving up all rights of proprietorship through a home buying contract agreement with a third party, or you may offer the property for a periodical rent (usually monthly)  to a tenant, plus you have another option as well, that of the leasehold.

Properties such as houses/villas are sold on a freehold basis most often, while apartments/flats are sold through leasehold, and this is perhaps because whoever afford to live in a flat and not in a house will find it more advantageous to only leasehold it. Lease holding means that you have ownership rights on the property for the term of the leasehold, which is in most cases “99 years”. Freehold is also known under the term frank-tenement.