What is the meaning of freehold?
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Permanent and absolute residence of land or property with freedom to sell it at will.
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England and Wales, Canada, Australia and Ireland are countries of common law jurisdiction. In such countries, the term 'freehold' means the common ownership of real property or land and all other immovable things connected to this land. A property is said to be freehold property only when it has the following two characteristics:-
- Immobility
- The ownership of the property must of an undetermined duration.
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