Which of the following is NOT a type of leasehold estate?

The correct answer focuses on identifying the type of ownership rather than leasehold estate characteristics. A tenancy in common refers to a form of concurrent ownership where two or more individuals hold title to a property together, each with an undivided interest. This ownership is distinct from leasehold estates, which involve the right to possess and use the property for a designated period under the terms of a lease agreement.

Leasehold estates include the estate for years, which has a fixed start and end date, the periodic estate, which renews automatically at the end of each period (like month-to-month leases), and the estate at will, which can be terminated at any time by either party, provided proper notice is given. By understanding that tenancy in common is about shared ownership and not about the right to occupy or use a property under a lease, it becomes evident that it does not fit into the category of leasehold estates.