Estate of inheritance
1. An interest in real property that can legally be passed on to one's heirs, usually done by will (devise).
2. In real estate, an estate of inheritance is technically an interest in real property that is either fee simple absolute or fee simple defeasible, since both carry rights of inheritance. In practical use, an estate of inheritance usually refers only to an estate in fee simple absolute.
Terms, Definitions, and Concepts: Real Estate, Title and Title Insurance, Taxes and Taxation, Legal (Law), Management
Added: Thu May 29 2008
Last Modified: Wed Jul 09 2008