Property Ownership
What is 'nonfreehold estate' in real estate and what are its types?
AA. Any property that is not on the island of Oahu
BB. Estates less than fee simple; includes various leasehold interests: estate for years (fixed term), periodic tenancy (month-to-month), tenancy at will, and tenancy at sufferance✓ Correct
CC. Any property subject to a mortgage or lien in Hawaii
DD. Property owned by non-citizens of the United States
Explanation
A nonfreehold estate is a possessory interest in real property without ownership—a leasehold. Types include: estate for years (fixed term lease), periodic tenancy (automatically renewing at fixed intervals), tenancy at will (continuing at the pleasure of either party), and tenancy at sufferance (holdover tenant). These estates are possessory but lack the permanence of freehold estates.
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