Which estate continues for a definite period of time, typically outlined in a lease?

An estate that continues for a definite period of time, as typically outlined in a lease, is known as an estate for years. This type of estate is characterized by a fixed duration and is established through a lease agreement, specifying the exact start and end dates of the tenancy. It is not dependent on the lifespan of any individual or on an indefinite period; instead, it clearly delineates the time frame within which the tenant has the right to occupy the property.

In contrast, a life estate is based on the life of an individual and terminates upon that individual's death, which does not fit the definition of having a definite time period. Fee simple pertains to a type of ownership that is ownership in perpetuity without a specified end date, and fee simple absolute is the most comprehensive form of ownership that conveys unlimited rights without any conditions or limitations. Both of these forms of ownership do not involve a predetermined time limit akin to a lease.

Therefore, the estate for years clearly stands out as the structure that explicitly corresponds with a defined timeframe, making it the correct answer in this context.