Property Ownership
In New Mexico, which of the following describes a 'possessory interest'?
AA future interest not yet in possession
BA current right to possess and use property (fee simple, leasehold, life estate)✓ Correct
COnly the right to mineral extraction
DA lien on the property
Explanation
A possessory interest is a present right to use and possess property. Fee simple, life estates, and leaseholds are possessory. Remainders, reversions, and executory interests are non-possessory (future) interests.
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