Definitions

Freehold

Freehold

[free-hohld]
Freehold, borough (1990 pop. 10,742), seat of Monmouth co., E central N.J.; settled c.1650, called Monmouth Courthouse (1715-1801), inc. as a town 1869, as a borough 1919. A former farm-trade and factory center, the borough is now a commercial hub for fast-growing surrounding Freehold Township and neighboring suburbs. St. Peter's Episcopal Church dates from c.1683. The Revolutionary War battle of Monmouth (see Monmouth, battle of) took place nearby in 1778.
freehold: see tenure.

In Anglo-American law, ownership of a substantial interest in real property (see real and personal property) held for an indefinite period. The term originally designated the owner of an estate held in free tenure, who possessed, under the Magna Carta, the rights of a free man. Today a freehold is distinguished from a leasehold, a contract to hold real property for a specified period. Seealso copyhold, fee, landlord and tenant.

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