Title basics · PROPERTY GUIDE
Freehold and leasehold: read the title, not the label
Tenure is one factor alongside restrictions, remaining term, consent, condition and price.
Freehold and leasehold describe tenure, but the individual title also shows the registered owner, category of land use, express conditions and restrictions in interest. Obtain an official search through the proper channel.
For leasehold property, consider the remaining term and whether state consent or other approval applies. Financing and resale appetite can vary by property and lender; avoid a universal rule.
Compare the total package: location, condition, title terms, management, price and intended holding period. Ask a lawyer about the title and a bank about financing for the specific property.
This article is general educational information and is not legal, financing or financial advice. Rules and procedures can change; confirm your circumstances with the relevant authority and qualified professional.