Alabama Real Estate Practice Exam

The landlord's interest in a leased property is called a "leased fee." This means that the landlord owns the property, but has a lease agreement with a tenant allowing them to occupy and use the property for a set amount of time. Option A, leasehold, refers to the tenant's interest in the leased property, not the landlord's. Option B, fee simple, refers to full ownership of a property without any lease agreements. Option D, qualified fee, is not a commonly used term and therefore may not accurately describe the landlord's interest in a leased property.