What Is Freehold Land?

If you are the owner of Freehold Land within England and Wales and Scotland, the ownership will consist of the building itself, the land that the property is built on and all immovable structures attached. For an estate to be considered a freehold, it must be a plot of land or an interest issuing out of, or annexed to land, and there can be no fixed period of time determined for how long you can own that land. As a freeholder you will own the property outright and this will remain the case until the day you decide to sell the freehold to somebody else.
 
Freehold properties are inheritable assets that can be defined as any estate which are ‘free from hold’. Owners do not face restrictions in transferring their property by registration of sale deed or by passing their freehold on to their heirs or legal guardians when they pass away. If you wish to sell your freehold land, you do not require permission from the state to do so. If you were to sell at a time when the property market is consistently even, the value of the freehold will be maintained however if house prices rise, the value of the freehold will naturally increase.
 
There are many advantages of owning freehold land. Firstly, you have total control with regards to possible repairs or extensions and you have the right to use the land for any purposes in accordance of local regulations. If you decide to modify or alter the property in any way, you can, providing you meet all planning and legal limitations and constraints that may apply. If you wish to make structural changes to the property, planning approval will be required. A freehold owner has the responsibility of maintaining their own property and land including the roof and outside walls and therefore it is wise to budget for these expenditures.
 
The main benefits of owning a freehold is that you do not have to pay service charges, annual ground rents and other landlord’s charges and you do not have to worry about the expiry of a lease. In addition, you do not have to deal with a problematic freeholder failing to maintain the building, or charging huge amounts for doing so.
 
For each property that is registered within the boundaries of your land, you are able to create and issue a lease to the individual owners of that property, otherwise known as the leaseholder. As a freeholder, you have responsibilities and obligations to fulfil to the leaseholder which could involve insuring the building and to take care of the general maintenance such as repairs, cleaning, and redecoration to all parts of the building other than the interior of each flat. You may wish to levy a service charge for this which should be set up as a reserve fund however you must be able to provide certified accounts to illustrate how the funds have been disbursed.
 
As a freeholder, you earn income from the annual ground rents therefore the higher the ground rent and the more leasehold properties set within your land, the higher the annual income will be.

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The process of selling your ground rent portfolio could not be easier. Simply contact us to provide some basic information from which we can make you a cash offer within 24 hours.How To Sell Your Freehold

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Selling your ground rent portfolio doesn’t have to be a hard process like some purchasers make it.  The main thing, when selling your ground rent to Freehold Sale, is that you get a fair price for your ground rent, professional service and no more stress.

So if you have a ground rent portfolio of 1 or 2 properties or a large portfolio then contact us today and start the process.

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