What is an estate in land that is owned for an indeterminate length of time called?

An estate in land that is owned for an indeterminate length of time is referred to as a freehold estate. This type of estate signifies ownership of land where the duration of ownership is not restricted to a specific time frame. Instead, it can last for the lifetime of the owner or, in some cases, be passed down to heirs, thus representing a more permanent and lasting interest in the property.

In contrast, other types of estates have defined limitations. For example, a leasehold estate is tied to a specific agreement for a set period, generally between a landlord and tenant, creating a temporary right to occupy and use the property. A future estate refers to a future interest that will become possessory at a later time but does not grant immediate ownership. A life estate is limited to the duration of an individual's life, after which the property is transferred to another party.

Understanding the distinctions between these various estates is crucial, as each type carries different rights, responsibilities, and implications in real estate transactions.