Property Ownership
A 'nonfreehold estate' (leasehold estate) in Georgia is characterized by:
AA. Permanent ownership rights with no expiration
BB. A time-limited right to possess and use property under a lease✓ Correct
CC. An ownership interest subject to conditions
DD. A co-ownership arrangement between landlord and tenant
Explanation
A nonfreehold (leasehold) estate gives the tenant the right to possess and use property for a defined period under a lease agreement. Unlike freehold estates (ownership), leasehold estates are temporary and revert to the landlord.
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