Freehold often times known most commonly known as fee simple is the most prevalent form of ownership. Fee simple properties would be defined as complete ownership consisting of holding title along with the land.
A leasehold property differs since a fee simple landowner (lessor) enters into an agreement with a person or entity (lessee). Most importantly, the buyer of leasehold real estate does not own the land they just have the right to use it for a pre-determined amount of time. This poses a challenge to many homeowners trying to attain financing whether its a purchase or a refinance since many major banks are not able to lend on this type of property. There are solutions available through the various lenders we work with.