Which of the following is an example of a freehold estate?

A freehold estate is a type of property ownership that has an indeterminate duration, meaning it is not limited to a specific period of time. A life estate is a classic example of a freehold estate because it grants ownership of the property for the duration of the life of a specific individual. After the individual’s death, the property ownership reverts to another party or designated heir, known as the remainderman.

This contrasts with other options where ownership or interests are not considered freehold. An oil and gas lease is typically a temporary agreement granting rights to explore for resources, and is thus characterized as a leasehold interest rather than ownership. An easement is a non-possessory interest that allows one party to use another party's land for a specific purpose, which does not convey traditional ownership rights. A leasehold represents the right to use and occupy property for a specified timeframe and is not ownership in perpetuity. Therefore, a life estate is the only option among the choices that exemplifies a freehold estate configuration.