What is freehold estate?

Freehold Estate is one where someone has permanent ownership of the land. This is contrary to the rent, where the person directly owns buildings on the ground, but has the ownership of the land until the date. There are several different versions of Freehold Estate in operation, the most remarkable is a simple fee and life assets.

Some pieces of soil are technically rented to "owners" rather than directly sold. In many cases, these lease agreements have been dating for decades or even centuries and will only take place long after the current residents have died. The rent itself can be purchased or sold, which means that in many cases the lease has the same practical effect as to own the soil directly. Where the land is not subject to a lease, the land is known as the property of freehold. This means that the landowner is not subject to any contractual restriction. Own ground and can largely do what he likes, including the transfer of any heirs.

There are other versions of a fee for simple assets that have the conditions that the former owner founded during selling, often many years ago. For example, landowners may be obliged to use it for a particular purpose or alternatively exclude it in its use for a particular purpose. A breach of this condition means that land ownership can return to the original seller or its descendants. Such conditions can also be binding on anyone who inherits the estate.

Life assets are the one where a person known as a tenant of life has the legal ownership of the country, but only until it dies. It can sell land or take a mortgage, but the ownership of the property is still returning to the original owner when the first tenant of life dies. For example, if Adam sells Brian and Brian sells Land to Charlie, Adam regains possession when Brian dies even though Charlie still lives on earth.

In some cases, the property freehold may be subject to the tail agreement. It meansThat although a person is the legal owner of the country, he cannot sell it to anyone else. Instead, she passes to her heir after her death. The heir is subject to the same rules, which means that the soil passes through a family line, although Illegitimate children are sometimes excluded. While ordinary a fee, including all four US states, was canceled in many places, especially between aristocracy, including all four.