What is the difference between freehold and leasehold titles?
5 responses Add Yours
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Hey,
I think the major difference is how you get to use your land and the freedom the title have.
Leasehold titles come with conditions that must be upheld and runs for a given period of time, which when its over can be extended or the land is reposed.
hop That helps, chheerzReferences:
- http://books.google.co.ke/books?id=VyzXGG3pmSoC&pg=SA1-PA4&lpg=SA1-PA4&dq=difference+between+freehold+and+leasehold,+kenya&source=bl&ots=dxeuuGRF-f&sig=aIXqHvUJ4v1MP9sHVIDwnGZPQt4&hl=en&sa=X&ei=7lyaUMn2D6Gg4gSWxYGYDA&ved=0CFEQ6AEwCQ#v=onepage&q=difference%20between%20freehold%20and%20leasehold%2C%20kenya&f=false
Nancy Oduor and Kennedy Otieno likes this post.-
That's great help. Thanks. :)
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Wazzup Nancy,
What you should know before making a decision is how you intend to use the property. Leasehold titles have restrictions and would bar progress that might be part of your plans. However, if your intended plans run for a short while, say 50 years, then a leasehold can be good for you.
Nancy Oduor likes this post. -
Leasehold titles have some degree of restrictions attached to them. What you really need to know is if what you intend to do with these land conforms to the conditions you have for this property.
Freehold is always best for long term plans.Nancy Oduor likes this post. -
Hi Nancy,
If its land you are purchasing, then freehold is the best since you have more right over what you do with it. If the property is yours, then leasing it is a great idea, considering you may have a better deal in days after the lease is over. Also, it may be a burden if the value of these area depreciates.
What you really need to know is how you will use that property once you get it.Nancy Oduor likes this post. -
