Which of the following describes a less-than-freehold estate?

A less-than-freehold estate refers to an interest in real property that is limited in duration, meaning it is not considered a complete and permanent ownership of the property. An estate for years fits this definition as it involves a lease agreement that grants a tenant the right to occupy and use the property for a specified term, which can be measured in days, months, or years.

The key characteristics of a less-than-freehold estate are that the tenant does not own the property outright and their interest in the property is temporary. In contrast, other choices, like a life estate, fee simple estate, and joint tenancy estate, represent forms of freehold estates which are more permanent in nature and involve ownership that can last indefinitely, either for the lifetime of an individual or potentially forever under certain conditions. Thus, the estate for years is the correct answer as it exemplifies a limited period of possession, characteristic of less-than-freehold estates.