What term refers to the rights of use and possession held by a tenant?

The term that refers to the rights of use and possession held by a tenant is the leasehold estate. A leasehold estate is a legal arrangement where the tenant is granted the right to occupy and use a rental property for a specified period, according to the terms set forth in a lease agreement. This arrangement provides tenants with the right to exclusive possession of the property, although they do not own the property itself.

In a leasehold estate, the landlord (or lessor) retains ownership of the property and gives the tenant (or lessee) the right to use it in exchange for rent. This relationship is governed by the lease terms, including duration, obligations for maintenance, and rights to terminate the agreement. This distinction is crucial in real estate, as it defines the tenant's rights and the limitations on those rights in relation to the property itself.

The other options represent different concepts in real estate. Life tenancy involves a property interest that lasts for the duration of a person's life. Fee simple absolute is the highest form of property ownership with complete control, including the rights to sell, lease, or bequeath the property. Tenancy from period to period refers to a lease that automatically renews at the end of each term, but does not directly