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by fennecfoxen
2000 days ago
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The UK, for historic reasons, doesn’t believe in private property for the common man; almost all property in the form of land belongs to the government or someone with a legacy from the ruling class of nobility. Thus most homeowners don’t own the land their home is on, they just own a very long term lease from the actual landowner (not sure precisely what is customary these days, but imagine a 99-year lease) with N decades left on it. This is a leasehold. Owning the land is called a freehold, and the owners are called freeholders instead of leaseholders. Contrast the US where a lease of a home is typically paid monthly and contracted on a year to year basis. |
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In terms of acres the land is owned by descendents of friends of Henry 8th, sure. Majority of houses though aren't leasehold - although many new houses are being sold as leasehold for the last 20 years or so.