The correct option is B.
The duration of one's ownership interested and the power one has over using the land depends on the type of estate one is said to hold.
Meaning of Estate :
- Estates in land are an individual’s legal rights or interest in a property.
- To be considered an estate in land, the interest must be Estates possessory or become possessory at some point in time.
- In other words, an easement, which is non-possessory is not an estate in land.
- Nor is a license. Additionally, in an estate in land ownership is measured concerning duration.
Are there different types of estates in land?
- There are two different types, and the determining feature is related to the ownership of the real estate.
- If they own the real estate, they would have a freehold estate.
- If they are leasing the real estate, they would be considered to have a leasehold estate.
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