freehold
/ˈfriˌhoʊld/
noun
- A type of ownership of land or property where the owner has full legal rights to it for an unlimited period of time.
- The farm is held as a freehold, meaning the family has owned it for generations.
- They bought the freehold of the house, so they don't have to pay rent to anyone.
- Investors often prefer freehold properties because they offer more control.
Antonyms
adjective
- Relating to or being a property that is owned outright, with no time limit on the ownership.
- Freehold land is often more valuable than leasehold land.
- They signed a freehold agreement for the commercial building.
- The apartment is a freehold unit, so the owner can sell it at any time.