Freehold title is the primary form of property ownership.
In this instance, a natural person (human) or juristic entiry (organisation such as a company) has outright ownership, forever, of a land parcel and its top structures. Ownership of the land terminates when ownership is transferred to another party through sale.
The owner, provided it does not break the law or contravene municipal zoning laws, HOA requirements or bylaws, may develop the property as desired.
With freehold title (as with any form of ownership), the owner will hold a title deed in their name which is registered at a deeds registry – this serves as proof of ownership of the land. The purchaser of this property is responsible for registration, transfer fees, and other associated costs, rates, insurance, maintenance of the property, and other incurred utility bills.
Freehold title owners may choose to lease the land to others, who will then have control of the land. Where a party controls, but does not own the land, this tenure to the land is called leasehold title. In this case, in most instances, the freehold title owner will not have ownership of the top structures.
Where parties own a smaller parcel of a built structure or sections of land within a scheme, this form of ownership is known as sectional title
