BC Real Estate Trading Services Licensing Exam Practice · Question
What is the primary difference between a 'freehold estate' and a 'leasehold estate'?
A freehold estate implies ownership of the property (land and buildings) for an indefinite period, whereas a leasehold estate grants the right to occupy and use
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Question: What is the primary difference between a 'freehold estate' and a 'leasehold estate'?
Answer options:
- Freehold is for commercial property, leasehold is for residential.
- Freehold property includes land and buildings, leasehold only includes buildings. ✅ Freehold grants perpetual ownership, while leasehold grants possession for a defined period.
- Freehold estates are registered, leasehold estates are not.
Correct answer: Freehold grants perpetual ownership, while leasehold grants possession for a defined period.
Explanation: A freehold estate implies ownership of the property (land and buildings) for an indefinite period, whereas a leasehold estate grants the right to occupy and use the property for a fixed term, subject to the terms of a lease.
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Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
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