What type of estate automatically renews itself for successive tenancies unless terminated by either party?

The correct answer is that a periodic estate automatically renews itself for successive tenancies unless terminated by either party. This type of estate is characterized by a lease that continues for a specified period—such as week-to-week or month-to-month—and automatically renews at the end of each period unless one of the parties gives notice to terminate. The cyclical nature of this agreement allows for flexibility in the duration of the tenancy, aligning with the idea that either party can end the tenancy by providing proper notice.

A periodic estate is distinct from other types of estates. For example, an estate for years is for a fixed term and does not automatically renew; it simply ends when the term expires. A tenancy at sufferance occurs when a tenant remains in possession after the lease has expired, but it does not have the renewal feature of a periodic estate. An estate at will is a more informal agreement that can be terminated by either party without a set duration, but it does not have the automatic renewal aspect that is central to periodic estates.