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What is a Leasehold Residential or Commercial Property?
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When you purchase a home, you usually buy the residential or commercial property and have complete, thorough ownership over the home and the land it sits on. While this isn't the most typical type of homeownership in the US, some metro real estate markets consist of homes for leasehold purchase.
Today, let's explore what a leasehold is, how leasehold ownership compares to freehold ownership, and the benefits and drawbacks of a leasehold residential or commercial property in information.
What Is a Leasehold Residential or commercial property?
Put merely, a leasehold residential or commercial property is an individual residential or commercial property that you own for a certain quantity of time without owning the land that it is constructed on. It's contrasted with freehold or fee easy ownership, which is far more common in America
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