The correct answer is B. An estate for years is a leasehold estate created for a definite period. Despite its name, the term does not actually need to be measured in years; it could be for months, weeks, or another precisely defined period.
Its defining characteristic is that the tenancy has a specified termination point.
Massachusetts Board landlord-tenant curriculum expressly distinguishes an estate for years from periodic tenancy or tenancy at will. It also recognizes that leases exceeding one year implicate Massachusetts Statute of Frauds requirements.
A periodic tenancy differs because it renews automatically from period to period until proper termination notice is given.
An estate for years is also a non-freehold or leasehold estate. The tenant receives a possessory interest rather than the landlord ' s fee ownership.
When the fixed contractual term expires, the tenant ' s right of possession under that estate generally terminates unless the parties establish a new tenancy.
Study Guide Reference: Contracts — Estate for Years versus Periodic Tenancy/Tenancy at Will.
