What term describes a tenant's right to occupy a property?

The term that describes a tenant's right to occupy a property is a leasehold estate. In real estate, a leasehold estate refers specifically to the interest a tenant has in a rental property, allowing them the right to occupy and use the property for a specified period under the terms of a lease agreement. This arrangement distinguishes the tenant's rights from those of the property owner, or lessor, who retains the title and overall ownership.

In contrast, a freehold estate pertains to outright ownership of real property, and a nonfreehold estate generally refers to shorter-term rights that may not involve a lease, such as a tenancy-at-will. An equitable estate relates more to interests in property that may not have legal title, often dealing with situations like trusts or beneficiary rights. Therefore, the leasehold estate accurately captures the essence of a tenant's right to occupy the property under a lease.