Which of the following is a legal life estate?

A legal life estate is a type of ownership interest in real property that provides someone the right to use and occupy the property for the duration of their lifetime. The homestead is an example of a life estate because it typically allows an individual to reside on and benefit from the property as long as they are alive. This concept is often tied to protections against creditors in certain jurisdictions, allowing individuals to protect their primary residence from being seized for certain debts.

In contrast, a leasehold refers to a tenant's temporary right to occupy a property but does not provide ownership rights. Fee simple absolute represents the highest form of property ownership, allowing for indefinite duration and transferability, which does not define a life estate. A determinable fee involves conditions that can result in automatic loss of ownership if the specified conditions are violated, which also differentiates it from the nature of a life estate. Thus, homestead serves as the correct representation of a legal life estate.