Which type of property interest allows the right to use the property for a specified period?

The correct answer, leasehold, refers to a type of property interest where an individual has the right to use and occupy a property for a designated term, as outlined in a lease agreement. In a leasehold arrangement, the lessee (tenant) does not own the property; instead, they have a contractual right granted by the lessor (landlord) to use the property for a set period, which can range from months to years. This type of interest is common in residential rentals, commercial properties, and any situations where property is rented out for a certain duration.

In contrast, freehold refers to ownership of property without any time restrictions, life estate provides use of the property for the duration of an individual's life but does not confer the right to use the property beyond that individual's lifetime, and joint tenancy involves co-ownership where two or more people share ownership rights and responsibilities for a property, but does not inherently limit the use of the property to a specific timeframe. Thus, leasehold is distinctly focused on the defined duration of property use, making it the correct choice.