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Freehold Land for Sale

Freehold Land for SaleIn the UK, there are many different options for land but understanding them all can be a little confusing. For instance, freehold land for sale is land granted by the Crown but with interest attached. Then, of all types of interest for land, the freehold interest is the least restricted, often being referred to as "ownership of land". Keep in mind that conditions on the use of the freehold land sales cannot be controlled nor can conditions be applied by the Crown.

Now, you may find some restrictions for freehold land in relation to the use of the land but this would be through other laws such as the local government and not the Crown. Another advantage of freehold land sale is that you would have the exclusive rights to the land and for an indeterminate amount of time. That means if you want to sell the freehold land to another party, you could. In addition, you would have the right to rent or lease the freehold land to another party.

The way freehold land sale works is that once the Crown has granted interest, it retains the right to compulsorily buy the land back to be used for public works to include bridges, schools, railroads, hospitals, and so on. The disadvantage is that you do not have to agree to this sell. Therefore, when the Crown determines the land is needed, they would first offer to buy it from you, coming to some type of agreement. However, if you cannot come to a satisfactory agreement, the Crown will buy it anyway, paying you what they say is fair.

Another option is called conditional freehold land, which means a title can be issued although restrictions may apply. In this case, a community benefit typically exists. Conditional freehold land is much the same as standard freehold land except that conditions apply, restricting the way in which the land can be used. In addition, the sale of conditional freehold land may need approval first by the Minister for Lands. For instance, if Crown land had been granted for some type of charitable group so a nursing home or other type business could be built and operated, the Minister of Lands may want money to be raised at a future date for extending the nursing home.

Finally, if ALT freehold land were to be transferred to an aboriginal community, then keep in mind the land could be sold by that same community. However, in this case, certain conditions typically apply if the State had originally created the freehold interest. Additionally, some conditions may be added to the land if it is transferred, restricting the sell of the land.

For many people, freehold land offers are a good option but you do need to be aware of the stipulations to determine if this is the right choice for you. Freehold land for sale can be mortgaged and unless an exemption is obtained, the rates and any other charges would be comparable and payable to other mortgage types.

-  James M

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