FREEHOLD INTERESTS

Freehold interests refer to ownership rights in real property, which is land and any permanent structures attached to it. In a freehold interest, the owner has full control over the property, subject to any applicable laws and regulations.
Unlike a leasehold interest, which is a temporary right to use and occupy the property, a freehold interest is a permanent ownership interest. This means that the owner can use, develop, or sell the property as they see fit, subject to any legal or regulatory restrictions.
Freehold interests can be transferred from one owner to another through a sale or other conveyance. They can also be passed down through inheritance. In general, freehold interests are considered to be more valuable than leasehold interests because they provide the owner with greater control and flexibility over the property.

Freeholders are subject to restrictions mainly in two ways:

1. Legal Restrictions: Freeholders are subject to legal restrictions that limit the ways in which they can use their property. These restrictions may include zoning laws, building codes, environmental regulations, and other local and state laws. For example, a freeholder may not be allowed to build a structure taller than a certain height or use their property for certain types of activities.

2. Contractual Restrictions: Freeholders may also be subject to contractual restrictions, such as easements or covenants, that limit the use of their property. An easement is a right granted to someone else to use a portion of the freeholder’s property for a specific purpose, such as granting access to a neighboring property. A covenant is a promise made by the freeholder to limit or regulate the use of the property in a certain way, such as maintaining a certain level of landscaping or prohibiting certain activities.

Overall, while freeholders have significant control over their property, they are still subject to legal and contractual restrictions that can limit their use of the property.

 

 

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