What is a Leasehold Residential or Commercial Property?

Page: What is a Leasehold Residential or Commercial Property?

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When you purchase a house, you typically acquire the residential or commercial property and have full, comprehensive ownership over the home and the land it rests on. While this isn't the most common kind of homeownership in the US, some metro property markets include houses for leasehold purchase.

Today, let's explore what a leasehold is, how leasehold ownership compares to freehold ownership, and the benefits and drawbacks of a leasehold residential or commercial property in detail.
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What Is a Leasehold Residential or commercial property?

In other words, a leasehold residential or commercial property is an individual residential or commercial property that you own for a certain amount of time without owning the land that it is developed on. It's contrasted with freehold or fee simple ownership, which is much more typical in America