What does a leasehold estate refer to?

A leasehold estate refers specifically to the tenant's right to occupy and use a property under a lease agreement. This legal concept arises when a landlord grants a tenant the right to possess the property for a designated period, typically in exchange for rent. The leasehold estate implies that the tenant has a vested interest in the property during the lease term, allowing them to benefit from its use while adhering to the terms of the lease.

The other options touch on related aspects of the landlord-tenant relationship but do not accurately describe a leasehold estate. For instance, the landlord's obligation to maintain the property is an important element of the lease but does not define the leasehold estate itself. Similarly, while there is a financial agreement between the owner and tenant, that agreement is more about the transaction than the estate itself. The duration of the lease agreement indicates the timeframe of the leasehold estate but does not encapsulate what the leasehold estate fundamentally means. Therefore, the definition of a leasehold estate is best captured by the tenant's right to occupy the property.