Enumeration of estates

70-15-202 . Enumeration of estates. Estates in real property, in respect to the duration of their enjoyment, are either: (1) estates of inheritance or perpetual estates; (2) estates for life; (3) estates for years; (4) estates from year to year, quarter to quarter, month to month, week to week, day to day, and for other indefinite and unascertained durations of enjoyment whatsoever, except estates or tenancies at will; or (5) estates at will.