What is the difference between a leasehold and a freehold estate?

A leasehold estate and a freehold estate are two different types of property possession in Texas. Leasehold estate is a type of real estate that is owned and controlled by a landlord. A tenant holds the right to use the property for a specific period of time according to the terms of the lease agreement. The tenant is not allowed to make any permanent changes to the property unless given permission by the landlord. The tenant is also responsible for certain expenses such as taxes, insurance, and repairs. A freehold estate is an individual’s complete and absolute ownership of the real estate. The freeholder has the right to use and inhabit the real estate and make any modifications desired. He or she is also responsible for all the taxes, insurance, repairs, and maintenance of the property. The freeholder’s control over the property lasts indefinitely as long as he or she is not in breach of any state regulations. The main difference between a leasehold and a freehold estate is that the landlord has control over the leasehold estate while the freeholder has full control over the freehold estate. In addition, the leasehold estate is temporary and the freehold estate is indefinite. Lastly, the tenant of the leasehold estate is not responsible for the expenses of the property while the owner of the freehold estate is responsible for all of the expenses.

Related FAQs

What is title search?
What is an agreement to sell?
What is an equitable servitude?
What is an encroachments clause?
How are encumbrances eliminated?
What is a deed of distribution?
What is the right of survivorship?
What is a deed of partition?
What is an implied covenant?
What happens if the mortgage is not paid?

What is the difference between a leasehold and a freehold estate?

Related FAQs

Related Blog Posts