Final answer:
The distinguishing feature of a leasehold estate is the duration limited by a lease term, reflecting a temporary right to use and possess the property as agreed in the lease, rather than full property ownership.
Step-by-step explanation:
The distinguishing feature of a leasehold estate is d. duration limited by a lease term.A leasehold estate is a temporary ownership of the full bundle of rights in a property. It grants the tenant the right to possess and use the property for a specified period of time as stated in the lease agreement. The ownership of the property remains with the landlord, but the tenant holds the leasehold interest during the lease term.
Leasehold estates are a form of property tenure where there is a temporary transfer of the right to possess and use the property, not an ownership of the property itself. This is in contrast to freehold estates where ownership of the property is for an indefinite duration. The leasehold estate is characterized by the lessee's (tenant's) right to use the property as stipulated by the lease agreement for a specified term.