term:

Freehold

freehold n

[translation of Anglo-French frank tenement freehold estate]
: a tenure of real property the duration of which cannot be determined and by which an estate in fee simple or fee tail or for life is held
;also
: an estate held by such tenure compare leasehold
freehold adj or adv

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.