What is a key difference between freehold and nonfreehold estates?

A key difference between freehold and nonfreehold estates is that freehold estates are typically characterized by an indeterminable duration. This means that freehold estates do not have a specified end date and can be owned for an indefinite period of time, often lasting a lifetime or longer, depending on the nature of the estate. For example, fee simple estates and life estates fall under the category of freehold estates, highlighting their indefinite nature.

In contrast, nonfreehold estates, such as leasehold estates, are defined by a fixed duration, often specified in a lease agreement, which establishes the start and end dates of the tenancy. This distinction is fundamental to understanding the types of property interests in real estate, as it influences ownership rights, obligations, and how the property can be used or transferred.