A leasehold is a form of ownership of real estate, limited to a period of ownership of 30 years, with the right to extend for another two or three terms. Thus, buying a property in a leasehold, you acquire property for (30+30+30) 90 or (30+30+30+30) 120 years.
Formally, this type of property is considered a long-term lease and in many states is not subject to declaration, unlike the freehold. At the same time, the owner can dispose of the property at its discretion. That is, you can safely sell, donate, pass on such property as an inheritance, etc.
The main advantages of this type of ownership can be considered:
• Lower property registration tax (1.1%)
• Initially lower price
• No need to declare
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