The term freehold is used to describe your ownership in perpetuity. As an owner of a freehold property you have an outright ownership of the property and the land on which it stands subject to restrictive covenants and statutory exceptions. This includes gardens, parking, fields etc. The majority of houses are sold in this way in Jersey.
Flying freehold is a form of co-ownership: It is used when purchasing apartments that share certain areas (entry halls, stairways, lifts, gardens, etc) and services (drainage, electricity, etc). An association is formed to help with the running of the communal areas. A co-owner will have sole ownership of an individual unit and ownership in common of the common areas (the share or lot).
Both of these transactions must pass contract through the Royal Court on a Friday afternoon.
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