What is an estate for years?

An estate for years is defined as a lease agreement that exists for a specific, predetermined period of time. This type of lease is not dependent on the occurrence of any external event or conditions; rather, it has a clear start and end date. For example, if a tenant rents an apartment for one year beginning on January 1 and ending on December 31, this arrangement would qualify as an estate for years.

The clarity of duration is what distinguishes this type of lease from others, such as a month-to-month lease, which does not have a fixed end date but rather continues until either party decides to terminate it with proper notice. An estate for years can be advantageous for both landlords and tenants, as it provides certainty regarding the lease terms and the length of occupation.