What type of estate has a fixed length of time associated with it?

A leasehold estate is defined by its fixed duration, which differentiates it from other types of estates in real property. It typically arises from a rental agreement where the landlord grants the tenant a right to use and occupy the property for a specific period of time, as established in the lease contract. This time frame can vary; for example, it might be a year, a month, or any agreed-upon term.

In contrast, a fee simple estate grants ownership of property indefinitely and does not have a predetermined expiration; it continues until the owner decides to sell or transfer it. Joint tenancy and tenancy in common are forms of co-ownership among multiple individuals, which do not imply any fixed length of ownership either. Thus, the clarity and specificity of the leasehold estate's temporary nature make it the correct choice in this scenario.