When you purchase a home, you normally purchase the residential or commercial property and have complete, comprehensive ownership over the home and the land it sits on. While this isn't the most typical type of homeownership in the US, some metro property markets include homes for leasehold purchase.

Today, let's explore what a leasehold is, how leasehold ownership compares to freehold ownership, and the benefits and downsides of a leasehold residential or commercial property in detail.

What Is a Leasehold or commercial property?

In other words, a leasehold residential or commercial property is an individual residential or commercial property that you own for a certain quantity of time without owning the land that it is built on. It's contrasted with freehold or cost simple ownership, which is a lot more typical in America