What type of estate grants the owner a present possessory interest in real property?

A freehold estate grants the owner a present possessory interest in real property, allowing them to occupy and use the property without a predefined expiration period. This type of estate is characterized by the significant degree of control and rights that the owner holds over the real estate, including the ability to sell, lease, or transfer the property. It contrasts with other types of estates, such as leasehold estates, which confer a temporary right to possession contingent upon a lease agreement and typically have an expiration. Tenancy in common and joint tenancy involve co-ownership arrangements, where the property is owned by two or more people, but they do not directly describe the nature of the possessory interest itself as a freehold estate does.