The key difference between freehold and leasehold estates is:
Correct Answer
B) Time
Freehold estates have indefinite duration (ownership), while leasehold estates have a definite term (tenancy). The key distinction is the duration of the interest.
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Related Topics & Key Terms
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Related Concepts
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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