A freeholder is normally a company or person that owns the actual freehold of the building. The leaseholder will own the house or flat on a lease for a certain number of years, but the freeholder will own the property outright. Freeholders are usually responsible for the repair and maintenance of the common parts as well as exterior of the building. A leaseholder may be liable to contribute towards these costs as a service charge under a lease. If you are a leaseholder it is important that you are aware of and understand the terms of your lease, as this sets out legal rights and duties as a leasehold owner.