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Estate
Definition:
1. All the property, possessions, and capital one owns, both real and personal, tangible and intangible.
2. The degree, level, quantity, quality, nature, characteristics, duration, and extent of the possessory interest one owns in real property.
3. In the feudal era, any of the three political classes: the
Lords Spiritual (the clergy), known as the first estate; the Lords Temporal (nobility, royalty, tenants-in-chief, etc.), known as the second estate; and the Commons (bourgeoisie), known as the third estate. In contemporary usage, journalists are known as the fourth estate.
4. The assets and liabilities of a deceased person, or one that is bankrupt.
5. A parcel of real property, varying in size but generally larger than a standard lot, with a residence (often a large house or mansion) and several outbuildings consisting of guest and servant quarters, barns, storage facilities, or the like.
Terms, Definitions, and Concepts: Real Estate, Legal (Law), Management, Appraisal, Auction, Finance and Investment, Taxes and Taxation, Title and Title Insurance
Added: Sun May 25 2008
Last Modified: Wed Jul 09 2008
Related Terms
Personal property (Personalty) Real property Tangible property Incorporeal property Possessory interest Leasehold (Leasehold estate) Life estate Indefeasible estate Estate in fee simple absolute (Estate in fee simple) Estate of inheritance Freehold (Freehold estate) Estate in fee simple defeasible Estate in real property (Estate in land) Grantee Grantor Estate in fee simple qualified Estate in qualified fee conditional Estate in qualified fee subject to condition subsequent Estate in qualified fee determinable Reversionary interest Future interest Life tenant Conventional life estate Estate pur autre vie (pour autre vie) Estate for the life of another Legal life estate Fee tail Successive estates Title Estates in Real Property FAQ'sHave something to add? How useful is this Landterm? Bookmark this term
