Property Ownership
In NJ, a 'possessory interest' in real property that does NOT include the right of ownership is called a:
AFee simple
BLeasehold estate✓ Correct
CLife estate
DFee simple defeasible
Explanation
A leasehold estate (tenancy) grants the tenant the right to possess and use property for a defined period under a lease, without ownership rights. The landlord retains the freehold (ownership) interest.
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