What type of property ownership is characterized by the right to inherit the property?

The correct option, which is the fee simple estate, includes the full ownership of the property and is characterized by the unconditional right to inherit. This means that the person who holds a fee simple estate can pass the property on to their heirs upon death, making it a highly desirable form of property ownership.

In contrast, a leasehold estate involves renting or leasing the property for a designated period, which does not confer any rights to inherit the property. A life estate allows ownership of the property only for the duration of an individual's life, after which it reverts to another party, thus not allowing for inheritance in the traditional sense. Joint tenancy involves co-ownership of the property with rights of survivorship, meaning that upon the death of one owner, their share automatically transfers to the surviving co-owners, rather than being inherited by their heirs. Therefore, the fee simple estate is distinctive because it grants the right to not only occupy and use the property indefinitely but also to transfer ownership through inheritance.