Not exactly corect- but freehold is as much ownership as you can get.
Originally Posted by tenant29
If freeholder [or even leaseholder] dies with no-one to inherit (either by Will or on intestacy), or if Co. is dissolved, assets pass to Crown. This is ultimate owner under UK law.
But, yes- freehold is better than leasehold (except re ownership of single flat/maisonette- should preferrably be leasehold in P's hands).
JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
4. *- Contact info: click on my name (blue-highlight link).