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You merely individual a leasehold property for a fixed time frame. A landlord has permanent ownership on the property, or 'freehold'. A lease is really a legal agreement in between you along with the landlord that states how much time your leasehold ownership will past.
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In case you individual a leasehold property, you could have the best to increase your lease or even purchase the freehold of your property out of your landlord. This is known as Leasehold Enfranchisement.
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