Las Vegas Property Classification
Apartment, condominium and townhouse are classified as non-landed property and these types of property are only issued strata title as there many units that share the same piece of land. For all types of residential units, there is further classification as to whether the land is freehold or leasehold. Freehold land entitle the owner to own the land in perpetuity whereas leasehold land allow the owner to own the land for period specified in the lease. Property with freehold title appreciate faster in the long term compared with the property with freehold title.