Freehold

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Freehold is a type of estate where the person has a right or owns title to real property for an unspecified amount of time. Freehold estates include all those described as “estates of inheritance,” meaning those able to be passed in a will or under intestacy laws to heirs, and freehold estates include life estates which are those given to a person for life.  This is to be contrasted with non-freehold estates in which the time is specified such as in a lease, and the person only has the ability to use the property, not own the property. 

See also: Freehold Estate

[Last updated in August of 2021 by the Wex Definitions Team]