Residential Leaseholds

A residential leasehold is an arrangement where you rent a property—the home or apartment—for a set period, often years, from a landowner or freeholder. During this lease, you have the right to live in and use the property, but you do not own the land itself. When the lease expires, ownership of the property reverts to the freeholder unless you renew or extend the lease. Lease agreements specify terms like rent, duration, and responsibilities, making it essential to review the lease carefully before committing.