A tenant's right to use a property for a fixed period of time

If you pay rent, you hold a leasehold estate, commonly called a lease or leasehold. This means that you can freely live and use the facilities of a rented property, which can be an apartment, house or condo, under the terms of a lease until it expires. There are four types of leasehold estates.

		Leasehold estates
		Estate for years	A tenant that has a lease for a set period of time. The rent must remain the same until the lease expires.
		Estate from period to period	A tenant with a lease that lasts month to month. The lease is automatically renewed at the end of each month. The tenant has to give 30 days notice.
		Estate at will	When there's no lease between the tenant and the landlord.
		Estate at sufferance	When a tenant lives on a property without the landlord's permission or paying rent.

See: Lease, Estate, Lease To Purchase Option Calculator