Have you noticed the options under the 'Tenure' filter? Or the various tags next to title addresses while browsing titles on Searchland?
Each one carries specific significance, which can be crucial for your search. Below, you'll find a concise explanation of each one of them:
Leasehold:
"Leasehold ownership" grants the right to use a property for a specified period, typically decades, without ownership of the land itself. Upon lease expiration, ownership reverts to the landowner.
Freehold:
"Freehold ownership" confers complete ownership of both the land and any structures on it indefinitely, without any time restrictions or lease agreements. Owners have full control over the property and can make decisions regarding its use and disposition.
Pending first registration (Pending):
"Pending" status indicates that the application is currently undergoing processing by the land registry, awaiting completion before further action can be taken. There are roughly 120K titles currently being processed in the United Kingdom.
Caution against first registration:
"Caution against first registration" is a notice placed on a property title to warn potential buyers of a possible legal claim or interest in the property. It prevents the property from being registered without the cautioner's consent. There are roughly 50K cautions in the United Kingdom.
Rentcharge:
"Rentcharges" are small, periodic payments typically associated with freehold properties, often originating from historical agreements. They are paid by the owner of the property to the owner of the rentcharge, usually for the maintenance of shared amenities or land. There are roughly 10K rentcharges in the United Kingdom.
