what is purchase freehold

Well disputes between lease holders and freehold are common over the property, however before going into detail, are you really aware of the term purchase free hold? Although it is technical term used for showing the acquirement of property, still there are two fundamentally different forms of legal ownership and purchase freehold shows the full land ownership or more commonly known as landlord of the property. It’s the time to understand the difference between lease holders and freeholders before making the purchase.

Difference between purchase freehold and lease extensions

Here is some popular and major difference added here between the two:

· Leaseholders are required to pay for the building repair and maintenance and it can be really expensive if the property needs repair at different areas, however as freehold owner, you are not required to make this expense.

· No need to worry about moving and looking for the new house, as freehold purchasers are able to use the entire property securely and this is more common because full houses are often sold in from of freehold purchase rather than leaseholder process.

· No need to worry about the rent as it is not paid by freehold purchasers, while leaseholders are require to pay it.

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