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There's more than one method to own residential or commercial property, like a house or a plot of land. Those different types of residential or commercial property ownership included other rights, responsibilities, and legal liabilities.
To that end, it's a good concept to know how you own a residential or commercial property, especially if you want to sell it or it in the future.
Today, let's take an appearance at fee easy vs. leasehold ownership. We'll detail the differences in between these ownership types and the benefits and downsides of both ownership designs.
What Is Fee Simple Ownership?
Fee simple ownership, AKA cost easy outright ownership, suggests you totally own a residential or commercial property or plot of land. When you buy residential or commercial property under charge easy rules, you are given title or ownership of the residential or commercial property in question.
Title ownership consists of ownership of the land and any enhancements to the land in perpetuity. Until you offer the residential or commercial property, you control everything there is to do with that land, plain and basic.
Under cost easy ownership guidelines, you deserve to:
- Possess the land and reside on it if you so choose
This will delete the page "Fee Simple Vs. Leasehold: what's The Difference?"
. Please be certain.