What does leasehold mean?

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It means that you may buy the property (i.e a house) but you do not totaly own the land it stands upon. Often places are sold new with a 99 year lease, so it's not worth even worrying about as we'll all be long dead before it becomes an issue. However, if you are buying a property that is not new, it pays to find out how long is left on the lease as the owners of the lease will need paying again, and could ask for almost any amount! -Find out before you buy! Most new housing estates are sold leasehold, and it always amazes me that people are willing to pay so much, yet theoreticaly don't even own the land their house is stood on...

First answer by Numenius. Last edit by Numenius. Contributor trust: 53 [recommend contributor]. Question popularity: 20 [recommend question]

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