“Freehold” title in Real Estate
Inspection on saturday in our land located at Ilara, Epe was Lit 😍🤗
With one of our Clients and a top rated lawyer barrister Oyemakinde Olukayode of The Alexis Law Practice.
Am sure you are among those that sees titled “Freehold” on real estate or property banner and wondering what it means. That is why you are here.
WHAT IS FREEHOLD?
Freehold is a type of property ownership, where a person or organisation has outright ownership, forever, of a property and the land on which it is built. It may be an inheritance of a family or community in which the government does not have any right over the property like barrister Oyemakinde had explained two days ago.
You may keep wondering How does the title “Freehold” benefit you as a Land Owner or Investor?
As the name suggests, freehold property signifies complete freedom. Thus, you as the owner of the property have complete control over the freehold premises; neither will you pay any other kind of charges though that might be in the case of leasehold properties. A freehold also has no restriction regarding time, visitors and the like. Thus, you can do whatever you legally wish to within the property, without being answerable to anybody else unless there are restrictions on the agreement.
You See ehnn, buying a freehold property may seem easier, as you know exactly what you’re getting, there will not be anything to do further down the line and you can be entirely responsible for your own property and what you do there. Ensure when you look at property well be it Land or Flat (particularly new builds or flats) you know that you are purchasing the freehold for the property. Check any boundaries and discuss any flying freehold issues with your solicitor or Agent.
Also, Depends on where you buy your freehold land from, it’s best you don’t leave your land at Freehold so you have to make sure the company buying from has plans to do a C of O or if you buy from an individual it’s best you do the C of O.
Riel Court Ilara Epe is the place to buy your Freehold land and Riel Homes as a company as a matter of facts has already begun the process making the Freehold and C of O land.
Click the Contact Link here to talk to our customer service to ask more questions or book for inspection.
We are Rieliable 🤗😊