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Penthouse apartment in Ullanlinna, Helsinki, Finland. Modern penthouses may or may not have terraces. Upper floor space may be divided among several apartments, or a single apartment may occupy an entire floor. Penthouses often have their own private access where access to any roof, terrace, and any adjacent setback is exclusively controlled.
A basement apartment is an apartment located below street level, underneath another structure—usually an apartment building, but possibly a house or a business. Cities in North America are beginning to recognize these units as a vital source of housing in urban areas and legally define them as an accessory dwelling unit or "ADU".
In this sense, a ground rent is created when a freehold piece of land is sold on a long lease or leases. [1] The ground rent provides an income for the landowner. [ 2 ] In economics , ground rent is a form of economic rent meaning all value accruing to titleholders as a result of the exclusive ownership of title privilege to location .
If the time of ownership can be fixed and determined, it cannot be a freehold. It is "An estate in land held in fee simple, fee tail or for term of life." [4] The default position subset is the perpetual freehold, which is "an estate given to a grantee for life, and then successively to the grantee's heirs for life." [4]
Flying freehold is an English legal term to describe a freehold which overhangs or underlies another freehold. Common cases include a room situated above a shared passageway in a semi-detached house, or a balcony which extends over a neighbouring property.
The Flexible Land Tenure System (FLTS) is an innovative concept to provide affordable security of tenure to inhabitants in informal settlements in Namibia.. The basic idea of the Flexible Land Tenure System is to establish an interchangeable tenure registration system parallel and complementary to the current formal system of freehold tenure.