Freehold land is also known as fee simple ownership, which means that once bought, the owner has complete and absolute ownership of the land and any structures on it. The owner has the right to use the land as they see fit, and they can sell or transfer the land to another person.
Leasehold land, on the other hand, is owned by someone else (typically an individual) who can lease the land for a set period of time. The lease agreement will specify the duration of the lease, and any other terms and conditions.
In Bali, leasehold land is common because Indonesian law prohibits foreigners from owning freehold land, except under certain circumstances. Therefore, many foreigners who want to own property in Bali opt to lease land instead. The lease term can vary, but is typically 25-30 years, with an option to renew for an additional period.
