| Freehold
land is land over which the Crown has granted an interest.
The freehold interest is the least restricted interest in
land and is usually known as 'ownership' of land. Unlike leasehold,
the land is no longer called Crown land after the freehold
interest has been granted.
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The Crown cannot put conditions on the use
of the land like it can with Leasehold. There may be some
restrictions on how the land can be used because of other
laws (such as local government laws). The terms 'freehold'
and 'fee simple' mean the same thing and are usually both
called 'ownership' of land.
Freehold gives the owner of that interest
the exclusive right to the land for an indefinite period of
time. The owner of the freehold can sell the land to anyone
else. The owner may also lease (or rent) the land to someone
else on whatever conditions they like (just like the Crown
can lease land).
When the Crown grants the freehold interest,
it keeps a right to compulsorily buy the land back (in other
words, even if you do not agree with the Crown buying the
land back, it can) for public works such as roads, railways,
bridges, schools, hospitals or other purposes to benefit the
State.
When freehold land is needed for that sort
of use, the Crown first tries to buy the land by agreement
with the owner. If that fails, then the Crown will compulsorily
buy the land and pay compensation to the owners.
What is conditional freehold land?
The Crown can grant a conditional freehold
interest in land. A conditional freehold title can be issued
where there may be restrictions on use of the land and usually
where there is a community benefit. It is the same as freehold,
except that conditions restrict the use of the land.
Also, any sale needs to be approved by the
Minister for Lands. For example, if a charitable group has
been granted Crown land to build and run a nursing home, they
may later want to raise money to extend the nursing home.
They could be granted a conditional freehold, and that could
allow them to borrow money using the land as security.
Can freehold land transferred from ALT be
sold?
If ALT freehold land is transferred to an
Aboriginal community, then the land can be sold by that Aboriginal
community. But there may be some conditions on a sale that
were placed on the freehold interest when it was originally
created by the State.
Or there may be conditions placed on the land
when it was transferred from the ALT which may restrict the
ability to sell the land.
If ALT conditional freehold land is transferred
to an Aboriginal community, then the land can only be sold
with the approval of the Minister for Lands. There may also
be some conditions on the sale that were agreed to when the
original interest in land was created.
Real
Estate Contracts | Fee
simple | Leasehold
vs. Fee Simple | Buying
the freehold of a flat |
Buying
the freehold | What
is freehold land? | Best
Real Estate Property Investment Potential |
Consolidation
Loans Being Free | Freehold
and Leasehold Property in Chandigarh |
