In general freehold land is land that is owned outright by an individual or entity, with no restrictions or obligations to any other party. The owner of freehold land has full rights to use, develop, and sell the land as they wish. However, depending on the country, the rules can differ. For example in the some countries, foreigners can purchase freehold property which gives them residency status in that country, although the freehold of the property is for 100 years only. Particular to Sri Lanka, it would be a better idea to get in touch with a real estate lawyer who should know the updated rules and regulations for freehold property in Sri Lanka.
adminlts Changed status to publish January 26, 2023