What type of estate is characterized as having an uncertain duration?

A freehold estate is characterized by an uncertain duration because it allows for ownership of the property without a predetermined end date. This type of estate grants the owner a degree of permanence, as it is not limited by a lease expiration or a designated time frame. Freehold estates can be further categorized into different types, such as fee simple (which is the most complete form of ownership) and life estate (which terminates upon the death of a specified individual), but the key element of a freehold estate is its indefinite duration.

In contrast, a leasehold estate is typically defined by a specific term outlined in a rental agreement, meaning it has a clear beginning and end. Joint tenancy refers to a form of ownership between two or more parties with rights of survivorship, which does not inherently relate to duration but rather to how property is held. A life estate, while also having an uncertain aspect since it lasts until the death of the life tenant, is still bounded by that specific condition, thus lacking the indefinite nature associated with a freehold estate.