freehold
noun [ C ]
PROPERTY, LAW mainly UK uk/ˈfriːhəʊld/ us/-hoʊld/the right to own a building or piece of land without time limit:
freehold of/on sth Trustees accepted an offer of £30 million for the freehold of the business.
buy/sell/own the freehold Instead of selling the freehold, the Commissioners are selling a 200-year lease.
(also mainly UK freehold estate)
a building or piece of land that is owned by someone without time limit:
Their stores do add a bit of solidity to their balance sheet as they are all freeholds.
Compare
leasehold
See also
fee simple
life estate
freehold
adjective
uk/ˈfriːhəʊld/ us/-hoʊld/freehold property is owned by someone without time limit:
Almost all of its properties are freehold, giving the group a net asset value per share of about 345p.
freehold buildings/land/possession