Which of the following statements regarding estates is true?

A life estate is indeed a type of freehold estate, which is characterized by ownership that lasts for the duration of a certain individual's life. This ownership allows the life tenant to use and benefit from the property during their lifetime, after which the estate passes to another designated person, known as the remainderman.

The concept of simultaneously having both freehold and non-freehold estates is accurate and reflects the diversity of property rights that can exist within the same parcel of real estate. For instance, a property can have a freehold estate held by the owner while also, at the same time, have non-freehold estates in the form of rental agreements or leases. This situation occurs when a property owner leases their land while retaining ownership rights.

Such arrangements highlight the complexity of property law and the differentiation between different types of estates. Understanding that both types can coexist is crucial for real estate professionals as it plays a significant role in managing ownership rights and tenant relationships effectively.