What does a non-freehold estate represent in real estate?

A non-freehold estate represents possession for a limited duration. This type of estate is characterized by the tenant's right to occupy a property without owning it outright. It typically involves a lease agreement, which grants the tenant the right to use the property for a specified period, after which the rights to occupy are relinquished back to the landlord.

In contrast, ownership for an unlimited duration represents a freehold estate, where the owner has indefinite rights to the property. Inherited ownership refers to ownership rights passed down through inheritance, not limited duration possession. Ownership under a trust involves a legal arrangement where one party holds the title for the benefit of another party, which also does not reflect the temporary nature of a non-freehold estate. Therefore, the defining characteristic of a non-freehold estate is indeed the limited duration of possession, confirming that this choice accurately describes its nature in real estate.