Which type of tenancy allows the tenant to occupy the property for an indefinite period of time until either party decides to terminate the agreement?

The correct answer, which refers to periodic tenancy, is characterized by its indefinite duration. This type of tenancy allows the tenant to occupy the property continuously until one of the parties, either the landlord or the tenant, initiates termination of the agreement. It typically involves payment of rent at regular intervals, such as weekly or monthly.

Periodic tenancy provides flexibility for both parties, as there is no set end date, and the agreement automatically renews unless proper notice to terminate is given. This distinguishes it from a fixed-term tenancy, which has a specified end date. Tenancy at sufferance, meanwhile, occurs when a tenant continues to occupy a property after their lease has expired, without the landlord's consent, and is not recognized as a proper tenancy type. A term tenancy, on the other hand, involves a lease for a predetermined period and lacks the indefinite qualities of periodic tenancy.