Freehold Estate Law and Legal Definition

A freehold estate is one where the duration of ownership is indeterminate, which could be for a lifetime of an individual or an unlimited duration. A freehold estate is the exclusive right to enjoy the possession and use of a parcel of land or other asset for an indefinite period. It is a right of title to land that is characterized by two essential elements such as immobility, meaning that the property involved is either land or an interest that is attached to or has been derived from land, and indeterminate duration, which means there is no fixed duration of ownership. There are three kinds of freehold estates such as a fee simple, a fee tail, and a life estate.