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

Leases and freeholds are two distinct types of property ownership in Kansas. A leasehold estate is a type of real estate possession where one or more parties hold a right to occupy a property for a certain amount of time, usually under a form of agreement. The parties usually involved are a landlord or lessor who owns the property and a tenant or lessee who is leasing it. The lease agreement contains all the terms and conditions of use for the property, including the duration of the lease, the amount of rent to be paid, and other details. The tenant or lessee enjoys the right to possess and use the property during their leasehold estate until the lease expires or is terminated. A freehold estate, on the other hand, is an estate whereby a person or entity owns a property in perpetuity. This is in comparison to a leasehold estate that gives rights for a limited duration, based on the lease agreement. With freehold estates, a person has ownership over the property until they choose to sell it or transfer it in some way. This type of estate is the most secure type of property ownership in Kansas and is preferred by many property owners for that reason. In summary, the main difference between a leasehold estate and a freehold estate is that a leasehold estate is a type of occupancy right for a given period of time, while a freehold estate is a full and permanent right of property ownership.

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

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