Which freehold estate is limited to the person's lifetime?

A life estate is a type of freehold estate that is specifically limited to the duration of an individual's life. This means that the ownership of the property is granted to a person, known as the life tenant, for the duration of their life. Once the life tenant passes away, the estate is transferred to another party, which is typically predetermined when the life estate is created.

This characteristic differentiates a life estate from other types of freehold estates, such as a fee simple estate, which represents an indefeasible ownership that lasts indefinitely and can be inherited. A leasehold estate conveys rights to use and occupy property for a specified period, but it does not confer ownership rights in the same way a freehold estate does. Tenancy in common involves ownership of property by multiple individuals, with each sharing an undivided interest, and it does not limit ownership to the lifetime of a single person.

Therefore, the defining feature of a life estate is its limitation to one individual’s lifetime, making it the correct choice in this context.