A form of property ownership (see also ‘Freehold’ and ‘Leasehold’) where several individuals own a portion of the property through a limited company.
The term “share of freehold” refers to a type of ownership structure in which a group of individuals or entities owns the freehold interest in a property jointly. The freehold interest is the highest form of ownership in the United Kingdom, and includes the right to occupy and use the property indefinitely.
In a share of freehold arrangement, the owners of the property hold a share in the freehold interest and are responsible for managing and maintaining the property together. This may include paying for repairs and maintenance, insuring the property, and making decisions about how the property is used.
Share of freehold arrangements are common in the United Kingdom, particularly for multi-unit properties, such as flats or townhouses. They provide owners with greater control over their properties and can offer a more flexible and cost-effective alternative to traditional leasehold arrangements.
You will find more useful information in our article: Freehold Flat Mortgages
