Property Ownership
In New York, a 'leasehold estate' differs from a fee simple estate in that a leaseholder:
AOwns the property in perpetuity
BHas a temporary right of possession for the lease term but does not own the property✓ Correct
CCan sell the property without restrictions
DOwes no obligations to the landlord
Explanation
A leaseholder has a possessory interest in property for the duration of the lease term but does not own the underlying fee. At the end of the lease, possession reverts to the fee owner (landlord).
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