Property Ownership
In North Dakota, a 'leasehold estate' gives the tenant:
AFee simple ownership of the property
BA possessory interest for a defined period per the lease terms, but not ownership✓ Correct
CThe right to sell the property
DMineral rights to the property
Explanation
A leasehold estate is a possessory, non-ownership interest in real property. The tenant (lessee) has the right to use and occupy the property according to the lease terms, but the landlord (lessor) retains ownership. The leasehold expires at the end of the lease term.
Related North Dakota Property Ownership Questions
- A North Dakota property described using the PLSS as 'Section 1, Township 140 North, Range 50 West' indicates:
- A North Dakota investor buys property in a 1031 exchange. This tax provision allows:
- In North Dakota, a 'fee simple estate' is the:
- A prescriptive easement is created by:
- Which of the following is an example of an involuntary alienation of real property?
- What does it mean when North Dakota farmland is held in 'fee simple determinable'?
- In North Dakota, a 'quiet title action' is a court proceeding used to:
- A riparian rights owner in North Dakota has the right to use water from:
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →