Freehold

Outright ownership of the land and any buildings on it — the most common form of property ownership in Australia.

Freehold (specifically "fee simple" in legal terms) is outright, perpetual ownership of the land and any structures on it. The owner has the right to occupy, modify, sell or pass it on, subject only to government planning controls, easements and council rates. Most Australian houses are freehold. Apartments and townhouses are usually held under strata title — a different form of ownership.