lettings appletons on 23 Feb 2007 02:38 pm
Leasehold property
Leasehold is a common type of property tenure in England where the ownership of a property is subject to lease from the freeholder. The freeholder is the legal owner of the land where the property is built upon.
Leasehold tends to be mostly applicable to flats or maisonettes rather than houses. The lease period is usually around 99 years or more in England.
Leasehold property is bought and sold on the market like any other property but there may be some extra paperwork to go through during the purchase.
Unlike a tenancy, the leaseholder has the right to occupy the property until the end of the lease period rather than having to periodically extend it (e.g. weekly, monthly).
