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Page: What is a Leasehold Residential or Commercial Property?

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1 What is a Leasehold Residential or Commercial Property?

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When you buy a home, you generally purchase the residential or commercial property and have full, extensive ownership over the home and the land it rests on. While this isn't the most common type of homeownership in the US, some city real estate markets include houses for leasehold purchase.
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Today, let's explore what a leasehold is, how leasehold ownership compares to freehold ownership, and the advantages and drawbacks of a leasehold residential or commercial property in information.

What Is a Leasehold Residential or commercial property?

Simply put, a leasehold residential or commercial property is a personal 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 cost basic ownership, which is far more typical in America