What is the difference between freehold & leasehold property? If I have a plot with physical possession, with all dues paid in bahria town or any other society, will it be called a leasehold property or otherwise?
By: JAHANGIR AHMED
Jahangir_khi@hotmail.com
Good question! Caused me to learn something. In my research, I have encountered the following facts:
Freehold usually trumps leasehold for one major reason: Full control. As the owner, you can mostly do what you wish with your home provided you keep within local planning rules. And your ownership remains for indeterminate period of time.
A leaseholder, on the other hand, only purchases the right to live in the property for a given length of time.