What are possessory estates to land?

Possessory estates in land refer to interests that grant an individual the right to possess and occupy a property. These estates are typically classified into several categories, including fee simple, life estate, and leasehold. A fee simple estate represents the highest form of ownership, allowing the holder to use the land indefinitely, while a life estate grants possession for the duration of a person's life. Leasehold estates, on the other hand, provide a temporary right to occupy land under a lease agreement.