Freehold
Outright ownership of both a property and the land it stands on, with no time limit. Freeholders have full control and no obligation to pay ground rent or service charges to a superior landlord. Most houses in England and Wales are freehold.
Freehold is the most absolute form of property ownership recognised in English law. Freeholders are registered at HM Land Registry as the owner of both the property and the land (the 'estate in fee simple absolute in possession'). Unlike leaseholders, freeholders have no obligation to renew or extend their ownership and owe no ongoing payments to a superior landlord. Freeholders of blocks of flats do have obligations — they must maintain the structure and common parts and comply with the Landlord and Tenant Act 1985 on service charges. The Leasehold and Freehold Reform Act 2024 gives flat owners in buildings of at least two flats where the majority are leaseholders a right of first refusal when a freeholder sells (the Landlord and Tenant Act 1987), and the right to collectively buy the freehold (collective enfranchisement) if they qualify under the 1993 Act.