Which statement is true regarding freehold and nonfreehold estates?

The true aspect regarding freehold and nonfreehold estates is that they can indeed coexist on the same property. A freehold estate refers to an ownership interest that is of indefinite duration, such as a fee simple estate or a life estate. In contrast, a nonfreehold estate, often referred to as a leasehold or tenancy, represents an interest in property for a specified period of time without ownership. Because of their distinct natures, it is entirely possible for a property to have both a freehold interest (like the owner's fee simple ownership) and a nonfreehold interest (like a tenant’s lease) simultaneously.

Additionally, a life estate is classified as a freehold estate, not a nonfreehold one. A life estate grants ownership based on the lifespan of a person, hence it is a form of freehold estate, reflecting its indefinite nature as it extends until the death of the measuring life. Understanding these classifications clarifies why the original statements are incorrect.