The key difference between freehold and leasehold estates is:
Correct Answer
B) A freehold lasts for an indefinite period, while a leasehold runs for a fixed, determinable term
Estates in land are classified first by duration. A freehold estate, such as a fee simple or a life estate, has no fixed ending date: it lasts indefinitely or for a measuring life. A leasehold estate runs for the term the lease fixes, or until a notice period ends it, so its duration is always determinable. Both give the holder possession and both are interests in real property; what sorts them is whether the ending date is certain.
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Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
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