What is it called when the owner of the property does not hold fee simple title?

When the owner of the property does not hold fee simple title, it signifies a lesser form of ownership rights. A leasehold interest reflects this situation, where an individual holds rights to occupy or use property for a specified duration, but does not own the property outright. Instead, ownership remains with the landlord or property owner, who possesses the fee simple title.

This arrangement contrasts with other forms of ownership, such as life estates, joint tenancies, and tenancies in common, where the property is owned in varying degrees or conditions, but not under a lease agreement. Ownership through a leasehold means that the leaseholder has a temporary and contractually defined right to use the property, distinguishing it from full ownership provided by a fee simple title.