What distinguishes a freehold estate from a leasehold estate?

A freehold estate is characterized by ownership of the property where the duration is typically indefinite. This means that the owner has control and rights over the property without a fixed expiration date. The owner can hold the property for an indefinite time, potentially even for their entire lifetime or until they choose to transfer the property to someone else.

In contrast, a leasehold estate is a type of property interest that provides temporary rights to use and occupy a property, without granting full ownership. The duration of a leasehold estate is defined by the terms of the lease agreement, and once that term expires, the rights revert back to the property owner. This fundamental distinction highlights that while freehold estates imply lasting ownership and control, leasehold estates are limited in duration and do not confer the same permanent rights.

This understanding of freehold versus leasehold is crucial for anyone involved in property ownership or management, as it influences both legal rights and responsibilities associated with the property.