Freehold Estate
A freehold estate represents ownership of real property with an indefinite duration.
Freehold estates are characterized by ownership rights, meaning the holder has the right to possess and use the property for an unspecified length of time. This contrasts with leasehold estates, where the holder has the right to possess but not own the property for a defined period. Freehold estates are further classified into different types based on the extent and limitations of ownership rights.
Owning a house outright, where you have the right to live there indefinitely, and pass it on to your heirs, is an example of a freehold estate.
Remember 'free' in 'freehold' implies freedom and ownership, not renting. Focus on the indefinite duration as a key characteristic.
Related Terms
Practice Questions
A life estate is an example of:
An example of a less-than-freehold estate is
A freehold could be any of the following EXCEPT
Fee simple is all of the following EXCEPT
A hospital receives a gift of real property from an elderly couple who reserve to them- selves a life estate. The hospital is the
Which statement is TRUE regarding a life estate?
The highest form of property ownership in the United States is:
Which of the following can the grantor of a life estate NOT do?
When a deed does NOT specify the estate being conveyed, it is presumed to transfer
A life estate may be granted
Related Concepts
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.