Which type of lease grants a tenant the right to occupy a property for a specific period, like a year?

The type of lease that grants a tenant the right to occupy a property for a specific period, such as a year, is known as an estate for years. This type of lease establishes a definite start and end date for the tenancy, making it a fixed-term arrangement. Unlike leases that are indefinite, the estate for years provides clarity for both the landlord and the tenant, as they both know exactly when the lease begins and when it will terminate.

This type of lease is particularly beneficial in rental situations where both parties seek stability and predictability regarding the duration of the tenancy. It also allows landlords to plan for the future, as they have a clear understanding of when the property may become available again for rent or other uses.

In contrast, an estate at will does not have a predetermined end date and can be terminated by either party with proper notice. A nonfreehold estate is a broader category that includes various forms of tenancy types, including estates for years, but does not specifically denote the fixed-term characteristic. A leasehold estate refers generally to the rights of a tenant in any lease arrangement, encompassing various types of leases, including both estates for years and estates at will. Therefore, the specific definition of an estate for years aligns directly with the requirements posed