ABSTRACT
This chapter explains the nature of the freehold and its variations and describes the qualities or characteristics of the freehold. It examines the nature of trusts and the nature of shared ownership. Historic records show that land ownership was well established in the legal systems of Anglo-Saxon times. The land law of Scotland is different than that of England and Wales — Scotland retained its own law after the Act of Union 1707. The freehold estate or fee simple absolute in possession is the principal estate in English law. For a buyer of property from those in shared ownership, it is prudent to ensure that the monies are paid to at least two of the trustees of the co-ownership but this will normally be the solicitor’s responsibility. The tenure is freehold and must be properly registered with the Land Registry. The Commonhold and Leasehold Reform Act 2002 extends and develops the so-called right to manage regime of earlier legislation.
