All Topics / General Property / Leasehold, Freehold, the differences?

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  • Profile photo of Fudge111Broz00Fudge111Broz00
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    @fudge111broz00
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    October 12, 2003 - 2:39 am

    Hi Everyone,

    We have come across an advertisment for a leasehold of a campsite. We are unsure of the exact meaning of “Leasehold” How does it differ to freehold?

    Regards Broz00[:D]

    Profile photo of BillfromozBillfromoz
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    @billfromoz
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    October 12, 2003 - 3:48 am

    G’day…

    Check out the title thoroughly !

    Leasehold is Not Freehold, and as such will have restrictions and conditions attached.

    Above all check into the “term” of the lease..it may be foor 30 yrs, 50 yrs …not to be confused with “99 yr” lease in ACT. The 99yrs in Canberra was simply used to STOP land speculation..ie. You must build within acertain period 2 years.

    Even a 30 year lease may have only 10 years to run

    Billfromoz

    Profile photo of Fudge111Broz00Fudge111Broz00
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    @fudge111broz00
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    October 12, 2003 - 4:02 am

    Thanks but all I am asking is whether purchasing a commercial leasehold property for $125,000 means we run the business ourselves, or can we lease it out to someone else?

    Thanks Broz00

    Profile photo of Fudge111Broz00Fudge111Broz00
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    @fudge111broz00
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    October 12, 2003 - 4:52 am

    Hi Billf,

    So your basically saying that Leasehold is similar to freehold except it has a few more conditions involved, is that right?

    Please answer back!

    THankyou, much aprreciated,

    Broz00

    Profile photo of BillfromozBillfromoz
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    @billfromoz
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    October 12, 2003 - 5:06 am

    G’day..

    In the example you give…that is different again.

    You are only being offered the biz. NOT the land

    It maybe a 10 year lease on the biz. and at the end of that period..you hopefully renegotiate another lease term.

    But…you are NOT buying R/E just the right to occupy

    Bill

    Profile photo of Fudge111Broz00Fudge111Broz00
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    @fudge111broz00
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    October 12, 2003 - 5:21 am

    Thanks, that’s what I thought

    Broz00

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