What defines a leasehold estate in real property?

A leasehold estate in real property is characterized by a temporary interest based on a lease agreement between a landlord and a tenant. In this arrangement, the tenant (lessee) receives the right to occupy and use the property for a specified period, as established in the terms of the lease. Unlike ownership interests, which grant full rights to the property, a leasehold estate does not convey ownership; instead, it allows the tenant to use the property while adhering to the terms set forth in the lease. This type of estate is crucial in real estate as it provides tenants with security and defined rights, albeit for a limited duration.

The other options, such as an ownership interest or inheritance of property rights, pertain to different concepts in property law. An ownership interest relates to full rights of ownership, and an inheritance pertains to the transfer of property rights upon someone's death. A claim on property due to eminent domain refers to the government's right to take private property for public use, which does not align with the concept of a leasehold estate.