Simple English definitions for legal terms
Read a random definition: secondary trading
Term: FREEHOLDER
Definition: A freeholder is someone who owns a piece of land or property without owing any money on it.
Historically, this term was used to describe someone who had a lot of power and influence in society because they owned land. Today, it simply means that someone owns their home or land outright, without any mortgage or other debts.
Definition: A freeholder is someone who owns a piece of land or property without owing any rent or other obligations to a landlord.
Example: In the past, only freeholders were allowed to vote in elections. This meant that only people who owned their own land or property could have a say in how the country was run.
Explanation: The example illustrates how being a freeholder was an important status in the past, as it gave people certain rights and privileges. Today, the term is still used to refer to someone who owns a freehold property, which means they have complete ownership and control over it.