Property Ownership
Which of the following best describes a leasehold estate?
AOwnership of property in fee simple
BA possessory interest in property for a defined period under a lease✓ Correct
CAn ownership interest measured by a person's life
DOwnership shared between two or more parties
Explanation
A leasehold estate is a possessory (but not ownership) interest in real property created by a lease. The tenant has the right to occupy and use the property for the lease term but does not hold title.
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