What is the difference between freehold and long-term leasehold?

Freehold is the most comprehensive property right. The holder of a freehold property is its unconditional owner and allowed to sell, mortgage or otherwise dispose of the property, provided that in doing so, the owner does not violate rights of third parties or the public order. Freehold property is unlimited in time. In contrast, long-term leasehold is a long-term tenancy contract with a duration of up to 99 years.

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