tenure

noun | \ ˈten-yər \ | ten·ure

1. : the act, manner, duration, or right of holding something tenure of office; specifically : the manner of holding real property : the title and conditions by which property is held freehold tenure : the manner of holding real property : the title and conditions by which property is held freehold tenure

2. : a status granted to a teacher usually after a probationary period that protects him or her from dismissal except for reasons of incompetence, gross misconduct, or financial necessity