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Thread: freehold

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    #1

    Question freehold

    Hi,

    perhaps you can help me with this:

    What is the difference between buying a house freehold and just buying a house?

    Can you also buy a flat freehold?

    Thanks

  1. BobK's Avatar
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    #2

    Re: freehold

    Quote Originally Posted by Gillnetter View Post
    The answer may be different in other parts of the world ...


    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.

    b

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    #3

    Smile Re: freehold

    Thank you both!

    It is clear now.

    I'm not an expert on this, but I don't think we have the leasehold option in Spain. Or if we do, it is really uncommon.

  2. BobK's Avatar
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    #4

    Re: freehold

    Quote Originally Posted by ophiuchus View Post
    Thank you both!

    It is clear now.

    I'm not an expert on this, but I don't think we have the leasehold option in Spain. Or if we do, it is really uncommon.
    In this connection, you maybe interested that the term 'real estate' - and, in Am English, its derivative 'realtor' (which in Br English is an 'estate agent') - is derived from the Spanish real, because all the land belonged to the king.

    (This use of 'real' is almost extinct in English, except in terms such as Real tennis - Wikipedia, the free encyclopedia )

    b

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