Freehold
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The most superior legal title to the ownership of premises – legally referred to as “fee simple
absolute in possession” – as opposed to long leasehold (or ground lease) which will often run for 100
years or more, and leasehold (usually the occupational lease interest). For an estate to be a freehold
it must possess two qualities: immobility (property must be land or some interest issuing out of or
annexed to land); and ownership of it must be of an indeterminate duration.