Which type of leasehold estate automatically renews until terminated by either party?

The type of leasehold estate that automatically renews until terminated by either party is the periodic estate. This arrangement typically involves a lease with no specified end date and continues for successive periods, such as month-to-month or year-to-year, depending on the agreement. The lease renews automatically at the end of each period unless one party provides proper notice to terminate.

This characteristic of automatic renewal distinguishes the periodic estate from other types. For instance, a fixed estate has a predetermined duration and does not renew automatically. Similarly, a tenancy at will can be terminated by either party at any time without notice, but it does not have the structured renewal aspect of a periodic estate. An estate for years has a fixed term that does not automatically renew because it ends on a specific date without any need for notice from either party. Understanding how these estates operate is crucial in property management and real estate, making the periodic estate particularly important in long-term rental agreements.