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English definition of “freehold”

freehold

noun [C]     /ˈfriːhəʊld/ US   /-hoʊld/ mainly UK PROPERTY, LAW
the right to own a building or piece of land without time limit: freehold of/on sth Trustees accepted an offer of £30 million for the freehold of the business.buy/sell/own the freehold Instead of selling the freehold, the Commissioners are selling a 200-year lease.
(also mainly UK freehold estate) a building or piece of land that is owned by someone without time limit: Their stores do add a bit of solidity to their balance sheet as they are all freeholds.
→ Compare leasehold → See also fee simple, life estate
(Definition of freehold noun from the Cambridge Business English Dictionary © Cambridge University Press)
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