The developer is given a lease on the land on which the property is built for a set period of time. The lease length typically ranges from 30 to 99 years. The government enables the transfer of a leasehold property to freehold property in exchange for payment of conversion fees. It also ensures the right to purchase a new lease when the existing lease expires. So to answer your question, the treatment of property changes to freehold from leasehold only after the due process is followed to convert the property status as mentioned.
Read More: How much does it cost to extend leasehold? Conversion deed from leasehold to freehold How to convert leasehold property to freehold?Your Feedback Matters! How was this Answer?
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When leasehold property can be treated as a Freehold Property ? If the estimated life of a building is 80 Years or more?
N.K.Sinha Roy
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3 Year
2022-06-02T19:20:08+00:00 2022-06-06T21:51:46+00:00Comment
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