Leasehold land is held by a
person by virtue of a lease agreement between him and the owner
permitting him to hold the land for a period as said in the lease
agreement. The difference between leasehold and freehold is that for
leasehold, the land is to be returnable after the expiry of the
period.
This type of land also
belongs to the government and the least is usually for 99 years. When
the lease expires, the government can take back the land or lease it
further. The lesser the number of years left on the lease, the less
valuable the land becomes. |
