In the UK, property sold freehold is the owner's (and their descendants' - although their descendants may find they need to sell it to pay 'Death Duty' (http://en.wikipedia.org/wiki/Inherit...nited_Kingdom)).
Leasehold property is not generally regard as 'rental', although it is for a fixed term. That fixed term may cover several generations - a typical lease on a flat lasts 50-100 years. I don't think in the UK any flat is ever sold freehold; but if you own a flat with a remaining lease of, say, 45 years, you call it 'my flat' and you don't pay rent.
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