Which of the following is most commonly associated with a Free Hold Estate?

A Free Hold Estate is most commonly associated with complete rights of ownership. This type of estate allows the owner full control over the property, granting rights such as the ability to sell, lease, mortgage, or otherwise encumber the property. The essence of a Free Hold Estate is that it is not limited by an expiration date or any other conditions that would restrict ownership, thereby providing the owner with indefinite control unless they choose to sell or transfer the property.

The other options describe characteristics that do not align with the fundamental nature of a Free Hold Estate. For example, stating that it has a specified expiration time contradicts the concept of ownership that is continuous and not bound by a timeframe. Similarly, while ownership by two or more persons relates more to joint tenancies or partnerships, it does not define a Free Hold Estate, which may also exist as sole ownership. Lastly, the notion that a Free Hold Estate cannot be transferred to heirs is inaccurate, as one of the primary rights associated with this type of estate is the ability to transfer ownership through inheritance, thereby facilitating intergenerational wealth and estate planning.