When you purchase a house, you typically purchase the residential or commercial property and have complete, detailed ownership over the home and the land it rests on. While this isn't the most typical kind of homeownership in the US, some city realty 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 downsides of a leasehold residential or commercial property in detail.

What Is a Leasehold Residential or commercial property?

Put simply, a leasehold residential or commercial property is a personal residential or commercial property that you own for a specific quantity of time without owning the land that it is constructed on. It's contrasted with freehold or cost easy ownership, which is a lot more typical in America