Which statement accurately describes a leasehold estate?

A leasehold estate is characterized as a temporary right of possession under a lease. This type of estate does not grant ownership of the property in perpetuity; instead, it allows the tenant, or lessee, to occupy and use the property for a specified duration as outlined in the lease agreement. The landlord or lessor retains ownership of the property during this time.

This differentiation is significant because leasehold estates are fundamentally different from freehold estates, where ownership is typically indefinite and includes a higher degree of rights and privileges. The nature of leasehold estates means that both the tenant and landlord have important responsibilities and rights established in the lease agreement, further emphasizing that possession is temporary rather than permanent.

The other options touch on concepts that relate to property rights but do not accurately define what a leasehold estate entails. Indefinite ownership is a characteristic of freehold and not leasehold estates, while claims against property and restrictions on use can occur in various property arrangements without specifically defining a leasehold estate. Thus, understanding that a leasehold estate is a temporary right of possession is essential in grasping the basics of property leasing and tenancy.