Correct Answer:
B. Parcel held by a tenant under one lease
The term "Tenancy" fundamentally refers to the legal arrangement where a person, known as a tenant, holds land or property from a landlord under a lease agreement. The correct option, "Parcel held by a tenant under one lease," accurately captures this essence. It signifies a specific piece of land (parcel) under a singular contractual agreement (one lease) by an occupant (tenant).
- "Government-leased land" is too specific, representing only one type of tenancy.
- "Periodical record" is entirely unrelated, referring to documentation, not the holding itself.
- "Share of holding" describes a fractional ownership or interest, which is distinct from the definition of tenancy as a leasehold arrangement.