Freehold VS Leasehold
Sunday, April 25th, 2010
When one says that a property is freehold, it means that the ownership of the property is transferable. Most properties in India are freehold. In specific areas like Delhi, Indian Government owns a big part of the land; some part of it is being leased out. The lease, like the ownership, is also transferable. However, this is only when there is a permission provided by Central Government. On the other hand, a leasehold property makes sure that ground rent is settled up to date. Most of the transactions are being done through the POA or Power of Attorney, which by the way is not conferring clear title to buyer and which ceases on the case of death of seller.
