What is the term for a leasehold estate with a definite termination date?

Study for the California Real Estate Broker Exam. Utilize flashcards and multiple choice questions, each with hints and explanations. Prepare efficiently and effectively for your licensing exam!

A leasehold estate with a definite termination date is referred to as an estate for years. This term describes a type of lease that has a specific beginning and ending date, making it distinct from other types of leasehold estates that do not have fixed termination dates. The key feature of an estate for years is its defined time frame, which provides both the landlord and the tenant with clarity regarding the duration of the tenancy.

In contrast, periodic tenancy involves rental periods that automatically renew, such as month-to-month agreements, and lacks a specific end date. An estate at will allows a tenant to occupy the property at the landlord's discretion, which means it can be terminated at any time without a set agreement on duration. Tenancy at sufferance occurs when a tenant stays in the property after the lease has expired without the landlord's consent, again not having a specified termination date.

Understanding these distinctions clarifies why an estate for years is the correct answer for a leasehold estate with a definite termination date.

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