Which term refers to a fixed duration leasehold?

The term that refers to a fixed duration leasehold is known as a non-freehold estate. This type of estate is characterized by having a specific end date, as opposed to freehold estates which have indefinite duration and ownership associated with them. Non-freehold estates, including leases, provide the tenant (or leaseholder) with the right to occupy and use the property for a predetermined period, after which the right typically reverts back to the landlord or property owner.

This distinction is important in real estate and property law, as it changes the nature of rights held by tenants versus owners. Understanding non-freehold estates helps clarify the types of agreements and expectations associated with rental and leasing scenarios, which are vital for title professionals. By knowing that a fixed duration leasehold falls under non-freehold estates, title agents can properly assess the rights being granted and what happens when the lease term expires.