Freehold property is any type of property that is free of any hold by any entity other than the owner of the property. It is not subjected to maintenance fees and must only follow the laws and regulations of the area that it is in.Know More
Owners of freehold properties are able to do anything they want with the properties as long as their actions are within the legal limitations. Although a property can be used for many different things, an individual who owns a freehold company must be sure that he is following all the zoning regulations of an area. For example, a person cannot use a freehold property to run a business when the property is only zoned for residential use.
Freehold property is among the property types that can be inherited. When a person inherits the free property, he is able to treat the property in the same way that the previous owner had treated it. Other than local laws, there are no limitations or regulations that a person must follow when it comes to inherited free property. The property is also able to be transferred with less paperwork than a traditional property through the use of a simple sales deed registration of the property.Learn More
A letter of abandonment of property is the legal notification that allows the owner of the abandoned property to recover their goods before they are disposed. By law, if someone is in possession of another person's property, they can't dispose of it without legal notice to the rightful owner.Full Answer >
Freehold tenure is the legal right to own a piece of property without any limitations on its use. Freehold tenure is also known as title in fee simple. Most property in the United States is purchased through this type of agreement.Full Answer >
A real estate investment trust is an entity through which a person invests in large-scale, income-producing real estate. There are specific requirements of real estate investment trusts which make them unique investment instruments. Many such trusts are publicly traded on the stock exchange.Full Answer >
According to the New York City Rent Guidelines Board, to sublet an apartment to another renter, a written request must be submitted to the owner of the apartment by certified mail, and a return receipt must also be requested. The request must be sent to the owner at least 30 days before the apartment is subleased.Full Answer >