A lessee has all of the following, except:
A. a less-than-freehold estate
B. a leasehold estate
C. a chattel real
D. a freehold estate
Answer: D. a freehold estate
Explanation: A lessee (tenant) does not own or have title to the property, and therefore does not have a freehold estate. A lessee does have a leasehold (less-than-freehold) estate. And his lease is considered a chattel real, because it is personal property that's closely related to real property.
Business
You might also like to view...
What is a lockbox arrangement, and how does its use reduce a firm's float?
What will be an ideal response?
Business
Although some bonds are traded on the NYSE, most of the buying and selling of bonds doesn't occur on organized exchanges
Indicate whether this statement is true or false.
Business