What is a characteristic of a leasehold estate?

A leasehold estate is characterized by the fact that the interest in the land is granted for a specific time period, which is the essence of a lease agreement. The tenant (or lessee) holds the leasehold interest in the property, but does not acquire ownership of the land itself. This distinguishes a leasehold estate from a fee simple estate, where the individual has full ownership rights. The lessor is the person who grants the leasehold interest, not the person receiving it. Additionally, a leasehold estate can be for any period, not necessarily less than 50 years, as mentioned in another option.