What type of estate refers to ownership interest for an indefinite period?

The correct response pertains to the concept of a freehold estate, which signifies a type of ownership interest in real property that is held for an indefinite duration. This means that the owner has the right to possess, use, and transfer the property without a predetermined ending date. Freehold estates can encompass various forms of ownership, such as fee simple absolute, which grants the most extensive ownership rights, or life estates, which are limited to the duration of an individual's life.

In contrast, other types of estates like leasehold and nonfreehold estates are associated with specific and limited timeframes. A leasehold estate typically involves leasing property for a specific term, such as months or years, and a nonfreehold estate includes a temporary interest in property that does not equate to full ownership, such as a rental agreement. Life estates grant usage rights for the lifetime of a specific individual but do not extend indefinitely beyond that person's life. Therefore, freehold estate aptly captures the essence of indefinite property ownership.