Cornucopia Farms LLC possesses farmland.Cornucopia has the right to use the property,including harvesting the crops,for ten years.Cornucopia does not have the right to extract the coal under the land.This is
A)a fee simple absolute.
B)a leasehold estate.
C)a life estate.
D)an easement.

Question

Quizplus · Accepted Answer

Cornucopia Farms LLC has a leasehold estate because they have the right to use and possess the property for a specific time period of ten years. They do not own the property outright like in a fee simple absolute, nor do they have a right to use the property for the entirety of someone's life like in a life estate. They also do not have a limited right of use like in an easement.

Cornucopia Farms LLC Possesses Farmland