What legal term describes the ability to claim ownership of a property after occupying it for a defined period of time under specific conditions?

The correct answer is Adverse Possession. This legal term refers to a doctrine that allows a person to claim ownership of land under certain conditions after occupying it for a specific duration, which varies by jurisdiction. Typically, the claimant must demonstrate continuous and exclusive possession of the property, which is open and notorious (not hidden), and be hostile to the interests of the true owner, meaning they possess the land without permission.

The concept is grounded in the idea of encouraging the productive use of land. If a property owner fails to assert their rights for an extended period, it incentivizes them to monitor their property. Hence, through adverse possession, the occupying individual could gain legal title to the property if they meet all the criteria established by law.

In contrast, a leasehold estate relates to a tenant's right to occupy property under a rental agreement and does not confer ownership. Squatter's rights may informally refer to similar principles as adverse possession but lack the legal structure that grants ownership through specific criteria. An easement is a right to use someone else's land for a specific purpose and does not involve ownership of the property itself.