What typically limits the duration of a leasehold estate?

The duration of a leasehold estate is primarily determined by the terms outlined in the lease agreement itself. The lease specifies the length of time for which the lessee is entitled to use the property, which can range from a few months to several years or even longer, depending on the agreement between the landlord and tenant. This contractual nature means that both parties negotiate and agree to the lease duration at the outset.

The other options do not directly dictate the length of the lease. For instance, while the property market value may influence rental prices or desirability, it does not set a specific length for the lease term. Similarly, the property owner's desire to sell might affect their overall strategy with the property, but it does not govern the duration of existing rental agreements. Lastly, the age of the lessee is irrelevant to lease duration; what matters is what the lease itself stipulates. Thus, the lease agreement serves as the definitive document that establishes the time frame of the leasehold estate.