Leasehold estate

Imagine you have a toy car that you love playing with. You're allowed to play with it, but it doesn't really belong to you, because it was given to you only for a limited amount of time. That's like having a leasehold estate.

A leasehold estate is when someone is allowed to use and have control over a piece of land or property, but they don't actually own it. They have it for a certain amount of time, usually years, and then they have to give it back to the person who really owns it. It's like borrowing something for a while, but with land or buildings.

When someone has a leasehold estate, they have to follow certain rules set by the owner of the land or property. They have to take care of it, keep it clean, and not damage it in any way. They might also have to pay rent or other fees for using it.

So, imagine your toy car was a house or a piece of land, and someone let you play with it for a few years. That's what a leasehold estate is. You get to use it, but it's not really yours forever.