Final answer:
A life estate is classified as a freehold estate, which grants the life tenant rights to the property during their lifetime, but it does not extend beyond their death.
Step-by-step explanation:
A life estate is classified as a freehold estate. This means that it is a type of property ownership where the estate lasts for the lifetime of a specific person. The holder of a life estate, known as the life tenant, has the right to use the property and benefit from it during their lifetime. However, they cannot leave it to heirs because the estate automatically reverts to the original owner or a remainderman upon the life tenant's death. A life estate is different from an estate in fee simple, which is complete ownership without term limits, and also distinct from an estate for years, which is a leasehold interest with a specific end date. Furthermore, it is not a defeasible fee, which is a type of fee simple estate that may be voided if certain conditions occur.