What kind of estate does an actor possess by renting a house from May 15 to August 5?

The actor possesses an estate for years by renting the house from May 15 to August 5. An estate for years is a type of leasehold estate that has a fixed duration, established by a specific beginning and end date. In this case, the rental agreement clearly states the period, which makes it an estate for years.

One of the key characteristics of an estate for years is that it allows the tenant to occupy the property for a predetermined length of time, regardless of whether the tenant or landlord terminates the lease. The lease automatically expires upon completion of the specified term, which in this scenario is from May 15 to August 5.

Other types of estates do not fit this arrangement as neatly. For instance, a periodic tenancy is characterized by a rental agreement that automatically renews after a period, such as week-to-week or month-to-month, which is not the case here given that the rental dates are fixed. A remainder estate refers to rights in property that will take effect after the termination of a prior estate, and it doesn't apply in this context where an actor is renting. Thus, the actor's rental agreement is most appropriately categorized as an estate for years, confirming the original choice.