A leasehold estate gives the tenant:
Why The right to possession for a defined period without ownership Is Correct
Answer B: The right to possession for a defined period without ownership
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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Key Terms to Know
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
EasementA non-possessory right to use another person's land for a specific purpose.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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