TeachMeFinance.com - explain freehold
freehold -- the occupying without actual ownership of a piece of land, a dwelling or an office for life, sometimes with the right to pass it on to one's heirs.
freehold property -- Although the name freehold property is most commonly applied to estates in fee simple, that is, those estates in which the holders have, as far as the English law will allow, an absolute property and can dispose of them almost exactly as they please, by conveyance or will, estates of a less degree are equally entitled to the name of freehold . Thus, a tenant for life or a tenant in tail has a freehold, but when the holding is for a limited period, as under a lease, the estate is not one of freehold. The name appears to be derived from the fact that the person who holds the estate holds it direct from the Crown, and that the estate was formerly held on services that a free man could perform.
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