Escrow & Title
In South Carolina, what is a 'possessory interest' in real property?
AThe right to sell or encumber property
BThe right to physically occupy and use a property✓ Correct
CThe right to receive income from a property without occupying it
DThe right to inspect a property before purchase
Explanation
A possessory interest is the right to occupy and use real property. Fee simple owners, tenants under a lease, and life tenants all have possessory interests. Some interests (like a remainder interest) are non-possessory — the holder has no current right of possession.
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