Which of the following estates allows for temporary occupation without ownership rights?

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The leasehold estate is characterized by an agreement that grants a tenant the right to occupy and use a property for a specified duration, typically under the terms of a rental contract. In this scenario, the tenant does not hold any ownership rights to the property itself; instead, their rights are limited to enjoyment and use of the property during the time specified in the lease. Upon the expiration of the lease, the rights of the tenant revert back to the landlord or property owner.

This structure is fundamentally different from ownership rights, such as those found in a fee simple absolute or a life estate, where individuals have ownership interests in the property. In a life estate, for instance, a person can occupy the property for their lifetime, but may pass ownership to another upon their death. Both fee simple absolute and fee simple conditional establish complete ownership, though the latter may carry specific conditions that could affect ownership rights. Thus, a leasehold estate is distinctive in that it allows for temporary occupation without conferring ownership rights.

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