What is the difference between freehold and leasehold ownership of property in England and Wales?
-
A
Freehold ownership is absolute ownership of the land indefinitely; leasehold is ownership for a fixed term granted by the freeholder
-
B
Freehold applies only to commercial property; leasehold applies to residential property
-
C
Freehold requires planning permission to sell; leasehold does not
-
D
They are equivalent terms for full ownership used in different regions of the UK