Prepare for the Humber Real Estate Course 1 Exam. Access our quiz with multiple choice questions and detailed explanations. Boost your readiness for the exam!

A leasehold estate is characterized by the fact that the interest in the land is granted for a specific time period, which is the essence of a lease agreement. The tenant (or lessee) holds the leasehold interest in the property, but does not acquire ownership of the land itself. This distinguishes a leasehold estate from a fee simple estate, where the individual has full ownership rights. The lessor is the person who grants the leasehold interest, not the person receiving it. Additionally, a leasehold estate can be for any period, not necessarily less than 50 years, as mentioned in another option.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy