Property Ownership
A distinctive feature of Hawaii real estate is the widespread use of leasehold ownership. In a leasehold arrangement, the buyer owns:
AThe land and the building permanently
BOnly the right to use the property for a specified period under a ground lease✓ Correct
CThe building but not the land in perpetuity
DThe land but not the building
Explanation
In a leasehold arrangement, the buyer (lessee) owns the right to use the property under a ground lease for a specified term. The underlying land is owned by the lessor (landowner).
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