Question

As used in real property law, which of the following is most nearly correct as a meaning for the word "tenancy"?

1) Ownership of property
2) Leasehold interest in property
3) Easement rights on property
4) Mortgage on property

Answer 1

In real property law, 'tenancy' refers to a leasehold interest in property, which grants possession and use of the land and/or structures to a tenant under a lease.

Step-by-step explanation:

As used in real property law, the term tenancy most nearly means a leasehold interest in property. This refers to the rights of possession and use of land and/or structures by a tenant for a specified period under a lease. A tenancy is distinct from other property interests such as ownership, easements, and mortgages. Ownership implies holding the title to the property, an easement is a right to use another's land for a specific purpose, and a mortgage is a security interest in the property held by a lender as a condition of a loan.