Which choice represents a type of estate that includes rights of use during the lifetime of an individual?

A life estate is a specific type of ownership interest in real property that allows an individual, known as the life tenant, to use and benefit from the property for the duration of their lifetime. Upon the death of the life tenant, the property interest either reverts back to the original grantor or passes to another designated party, known as the remainderman. This form of estate is particularly significant because it provides the life tenant with rights to possess and enjoy the property while alive, without granting them full rights of ownership that would exist in a fee simple estate, which allows for indefinite ownership and transferability.

In contrast, a revocable trust involves a legal arrangement where the grantor can change the trust terms or assets during their lifetime, but it does not directly confer an estate in property during life. A fee simple estate grants the highest level of ownership rights in real property, including the right to use, sell, and bequeath, but it does not limit ownership to just the lifespan of an individual. A leasehold estate grants rights to a tenant for a specified period under a lease agreement, which is different from a life estate since it is not tied to the lifetime of an individual but rather to the terms of the lease. Thus,