A Freehold Estate is a type of property ownership that grants the owner full rights to the land and any structures on it. This ownership is typically indefinite, meaning it does not have a set end date. Freehold estates can be passed down to heirs, making them a valuable form of real estate investment. There are different types of freehold estates, including Fee Simple Absolute and Life Estate. A Fee Simple Absolute is the most complete form of ownership, while a Life Estate allows ownership for the duration of a person's life. Both types provide significant control over the property.