What Is Freehold Property in BC?

Freehold property is real estate that you own indefinitely. In British Columbia, freehold ownership is usually called fee simple ownership. A freehold owner can sell, transfer, mortgage or leave the property to an estate, subject to title charges, zoning, bylaws and other laws.

A freehold property can be a detached home, duplex, townhouse or condo. A freehold strata owner owns a strata lot and shares ownership of common property with other owners. A leasehold property gives the buyer a right to use the property for a fixed lease term while another party owns the underlying land.