Property Ownership
In South Dakota, which of the following interests in real property is NOT an ownership (freehold) interest?
AFee simple absolute
BLeasehold estate (tenant for years)✓ Correct
CFee simple defeasible
DLife estate
Explanation
A leasehold estate is a possessory interest in real property for a defined term, not an ownership (freehold) interest. Freehold estates include fee simple (absolute and defeasible) and life estates. Leaseholds give the tenant the right to possess and use property but not to own it.
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