Asked by Arjan Thouli on Jul 15, 2024
Verified
Distinguish between a leasehold estate and a freehold estate.
Leasehold Estate
An interest in real property that gives the holder the right to possession and use of the property for a specified term under a lease.
Freehold Estate
A type of ownership in real estate where the owner has complete control of the land and any buildings on it for an indefinite period.
- Differentiate between various types of estates in land, including leasehold and freehold estates.
Verified Answer
SG
Sanjita GautamJul 18, 2024
Final Answer :
A leasehold estate involves a transfer of a right to possess the land to someone else for a specific period of time. A freehold estate, such as a fee simple or life estate, does not last for any specific period of time.
Learning Objectives
- Differentiate between various types of estates in land, including leasehold and freehold estates.