freehold

Meanings

1. 1
   noun

   ownership of land or a building for an indefinite period, rather than for a fixed lease term

   They bought the freehold so they would own both the apartment and a share of the land.

2. 2
   noun

   land or property held under freehold tenure

   The cottage and its surrounding acre formed a single freehold.

3. 3
   adj

   held as a freehold rather than under a lease

   The auction included several freehold commercial properties.

From Middle English fre hold, a compound of free + hold. In feudal law it denoted tenure held by a free person under conditions distinguished from servile tenure; it later developed its modern property-law senses.

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