Which of the following best describes a leasehold estate?

A leasehold estate is characterized as a temporary right to occupy a property. It represents the tenant's interest in the land under the terms of a lease agreement, allowing them to use and enjoy the property for a specified period in exchange for rent. This arrangement reflects a non-ownership interest, distinguishing leasehold estates from freehold estates, where actual ownership of the property exists.

In this context, option B correctly identifies the nature of a leasehold estate as it emphasizes the transitory nature of the tenant's rights, which are contingent upon the duration set forth in the lease agreement. This is a fundamental aspect of leasehold estates, as they do not confer permanent ownership but rather a limited right that ends when the lease concludes or is terminated.

The other options do not accurately represent leasehold estates. Ownership interests in real property describe freehold estates rather than leasehold arrangements. A lease is not a contract for the sale of property but rather an agreement outlining the terms of occupancy. Additionally, a type of easement pertains to the right to use another's property for a specific purpose, which does not align with the definition of a leasehold estate. Therefore, the best fit for describing a leasehold estate is the temporary right to occupy a property.