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Originally Posted by Skydragon
With leasehold, you do not have the opportunity to buy the land your house is built on. Although you own the house, you have to pay ground rent or a management fee. As you say, if you sell the house, the new owners have to sign a contract with the landowner, agreeing terms and conditions.
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It's the same arrangement for Royal Lodge and Bagshot Park. Prince Andrew and Prince Edward signed 99-year leaseholds from the Crown Estate and can make improvements and renovations, but do not own the property itself.