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  1. #2041
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    Quote Originally Posted by Crypto Crude View Post
    I don't have a problem whatsoever for using the term... everyone understands what I mean even you...!


    What is the meaning of freehold property?

    : Freehold property can be defined as any estate which is "free from hold" of any entity besides the owner. Hence, the owner of such an estate enjoys free ownership for perpetuity and can use the land for any purposes however in accordance with the local regulations
    . As FP said, When you use the term freehold do you mean mortgage-free or an unencumbered freehold property? I know it is a term that can cause confusion. The owner of freehold title is free to encumber it (in exchange for a loan.)
    Last edited by Bjauck; 07-07-2021 at 06:49 PM.

  2. #2042
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    Quote Originally Posted by Bjauck View Post
    . As FP said, When you use the term freehold do you mean mortgage-free or an unencumbered freehold property? I know it is a term that can cause confusion. The owner of freehold title is free to encumber it (in exchange for a loan.)
    And that is the important point. If the owner does encumber a freehold property by raising a mortgage, or mortgages (first, second, third or subsequent.....) it will still be a freehold property.
    Last edited by fungus pudding; 07-07-2021 at 08:01 PM.

  3. #2043
    Guru Crypto Crude's Avatar
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    Obviously I am talking about freehold property and land...

  4. #2044
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    Google definition "Buying freehold means buying both the building and the land. You own both outright, and are responsible them. There is no limit to the time on your ownership."...

    .....

  5. #2045
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    [QUOTE=Crypto Crude;894618]Google definition "Buying freehold means buying both the building and the land. You own both outright, and are responsible them. There is no limit to the time on your ownership."...[Quote]

    Wrong again. Certainly buying land, not neccesarily the building, which could be a rented relocatable shed, and not necessarily owning outright.
    To own outright means to have ownership of an assett using your own money, i.e. fully paid for, whereas a freehold property may br mortgaged to a lender.
    You cannot own a property outright if you have borrowed againt it.
    You can own a freehold property which is mortgaged or encumbered with any sort of loan.

    Longman definition of own outright: to own something such as a house completely because you have paid the full price with your own money.
    Pop along to your local university and sneak into a few law lectures. Chances are no-one will ask who you are.

    Own outright 'to own something such as a house completely because you have paid the full price with your own money'
    Last edited by fungus pudding; 11-07-2021 at 07:29 AM.

  6. #2046
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    Ok thank you...
    I will keep the wording to your liking 👍 😊

  7. #2047
    FEAR n GREED JBmurc's Avatar
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    [QUOTE=fungus pudding;894621][QUOTE=Crypto Crude;894618]Google definition "Buying freehold means buying both the building and the land. You own both outright, and are responsible them. There is no limit to the time on your ownership."...

    Wrong again. Certainly buying land, not neccesarily the building, which could be a rented relocatable shed, and not necessarily owning outright.
    To own outright means to have ownership of an assett using your own money, i.e. fully paid for, whereas a freehold property may br mortgaged to a lender.
    You cannot own a property outright if you have borrowed againt it.
    You can own a freehold property which is mortgaged or encumbered with any sort of loan.

    Longman definition of own outright: to own something such as a house completely because you have paid the full price with your own money.
    Pop along to your local university and sneak into a few law lectures. Chances are no-one will ask who you are.

    Own outright 'to own something such as a house completely because you have paid the full price with your own money'
    Yes "FEE SIMPLE" freehold Title--- Certificate of Title is ones name with no lender is a great accomplishment 100% your home .... took me many years of different ownership with Banks to finally buy without a bank on the title >>> then you can use your properties full equity to drive further investments
    "Don't believe a f'ing thing your government tells you."George Carlin
    “The further a society drifts from the truth, the more it will hate those that speak it.”George Orwell

  8. #2048
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    [QUOTE=JBmurc;894702][QUOTE=fungus pudding;894621]
    Quote Originally Posted by Crypto Crude View Post
    Google definition "Buying freehold means buying both the building and the land. You own both outright, and are responsible them. There is no limit to the time on your ownership."...

    Yes "FEE SIMPLE" freehold Title--- Certificate of Title is ones name with no lender is a great accomplishment 100% your home .... took me many years of different ownership with Banks to finally buy without a bank on the title >>> then you can use your properties full equity to drive further investments
    That's hard to follow. You can have a freehold property, (aka - fee simple) and still have a loan or mortgage registered on the title. Not sure of any advantage in buying without a mortgage or 'different ownership with banks' whatever you mean by that. You can always repay the mortgage and raise a new one with the same lender - and if you get your timing right your mortgage interest can be tax deductable if used to purchase income producing assetts, although Labour have changed the rules a bit on some residential investments.

  9. #2049
    FEAR n GREED JBmurc's Avatar
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    [QUOTE=fungus pudding;894708][QUOTE=JBmurc;894702]
    Quote Originally Posted by fungus pudding View Post

    That's hard to follow. You can have a freehold property, (aka - fee simple) and still have a loan or mortgage registered on the title. Not sure of any advantage in buying without a mortgage or 'different ownership with banks' whatever you mean by that. You can always repay the mortgage and raise a new one with the same lender - and if you get your timing right your mortgage interest can be tax deductable if used to purchase income producing assetts, although Labour have changed the rules a bit on some residential investments.
    LOL yah sorry about that >> what I Should have said was BUYing a Residential freehold property without having a morg reg on the title is a great achievement

    Then you can use that great equity and fund other investments and be able to claim all costs of that lending ..Is how I have set it up >> we have debt but is 100% claimable just like many of our monthly costs ..

    I don't get why people are happy to have debt over their home Car , private assets ..but at the same time have large amounts of their own capital in say the Sharemarket or term deposits,Bonds etc
    "Don't believe a f'ing thing your government tells you."George Carlin
    “The further a society drifts from the truth, the more it will hate those that speak it.”George Orwell

  10. #2050
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    [QUOTE=JBmurc;894772][QUOTE=fungus pudding;894708]
    Quote Originally Posted by JBmurc View Post

    LOL yah sorry about that >> what I Should have said was BUYing a Residential freehold property without having a morg reg on the title is a great achievement
    How about OWNING a res. property without a mortgage......etc. You can purchase it with a mortgage or two - repay them as your circumstances allow - then refinance, creating a tax effective mortgage.
    Last edited by fungus pudding; 12-07-2021 at 07:15 PM.

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