Which describes the term "freehold estate"?

The term "freehold estate" refers to an ownership interest in real property that is characterized by the indefinite duration of ownership. This means that the individual who holds a freehold estate has the right to possess and use the property without an expiration date, unlike other forms of property interests that may have specific time limits. Ownership can be passed down to heirs or sold, providing significant control over the property for the owner.

In comparison, the other options describe interests that are limited in duration or nature. A temporary interest implies a set timeframe, which does not align with the concept of a freehold estate. A lease with a fixed duration also indicates a limited time commitment, as does a type of commercial lease, both of which do not grant ownership rights but rather a right to use the property for a specified period. Thus, "an indefinite period of ownership" accurately captures the essence of what a freehold estate entails.