An estate of inheritance or perpetual estates are referred to as a(n):

An estate of inheritance, often referred to as a perpetual estate, is correctly identified as an estate in fee. This type of estate grants the holder the maximum possible ownership interest in real property. The holder of a fee estate has the right to use, sell, or bequeath the property, and it can continue indefinitely, being passed down to heirs upon the holder's death. This is what distinguishes it from other types of estates such as a life estate, which only lasts for the duration of a person's life, or a leasehold estate, which is limited to the terms of a lease agreement. Joint tenancy, while a form of ownership between multiple parties, does not convey the essence of inheritance synonymous with a fee simple estate. The concept of an estate in fee emphasizes the perpetual nature and the ability to transmit ownership to future generations, aligning perfectly with the definition of an estate of inheritance.