Estate – the amount, degree, nature, and quality of a person’s interest in land or other property, which may become possessory and hereditable

estate:
(15c)

1. The amount, degree, nature, and quality of a person’s interest in land or other property; especially, a real estate interest that may become possessory; the ownership being measured in terms of duration.  See periodic tenancy under TENANCY.

Absolute Estate – A full and complete estate that cannot be defeated.

Base Estate – an estate held at the will of the lord, as distinguished from a freehold.

Concurrent Estateownership or possession of property by two or more persons at the same time.

conditional estate. See estate on condition.

Contingent Estate – an estate that vests (transfers in ownership) only if a specified event does or does not happen. aka estate on contingency; estate on condition; estate upon condition.

Determinable Estate – an estate that is defeasible (capable of being cancelled) by operation of a special limitation. — aka determinable freehold.

Derivative Estate – a particular interest that has been carved out of another, larger estate.

Equitable Estate – an estate recognized in equity, such as a trust beneficiary’s interest.

Equitable Life Estate – an interest in real or personal property that lasts for the life of the holder of the estate and that is equitable as opposed to legal in its creation (i.e. an estate held by a trust beneficiary).

r estate ad remanentiam (ad rem-a-nen-shee-am). An estate in fee simple.

r estate at sutferance. See tenancy at suferance under TENANCY.

, estate at will. See tenancy at will under TENANCY.

estate by curtesy. (18c) An estate owned by a wife, to which the husband is entitled upon her death. See CURTESY.

yestate by elegit. (18c) An estate held by a judgment creditor, entitling the creditor to the rents and profits from land owned by the debtor until the debt is paid. See ELEGIT.

yestate by entirety. (1876) A common-law estate in which each spouse is seised of the whole of the property. a An estate by entirety is based on the legal fiction that a husband and wife are a single unit. The estate consists of live unities: time, title, interest, possession, and marriage. The last of these unities distinguishes the estate by entirety from the joint tenancy. A joint tenancy can exist with any number of persons, while an estate by entirety can be held only by a husband and wife and is not available to any other persons. And it can be acquired only during the marriage. This estate has a right of survivorship, but upon the death of one spouse, the surviving spouse retains the entire interest rather than acquiring the decedent’s interest. Most jurisdictions have abolished this estate. –Also termed estate by the entirety; estate by entireties; estate by the entireties; tenancy by the entirety; tenancy by the entireties. Cf. joint tenancy and tenancy in common under TENANCY.

v estate by purchase. (17c) An estate acquired in any manner other than by descent. See PURCHASE.

r estate by statute staple. (1856) An estate in a defendant’s land held by a creditor under the statute staple until the debt was paid. See STATUTE STAPLE.

> estate by the curtesy of England. See CURTESY.

> estate for a term. See tenancy for a term under TENANCY. > estate for life. See life estate.

r estate for years. See tenancy for a term under TENANCY.

restate in common. See tenancy in common under TENANCY.

> estate in fee. See FEE SIMPLE. > estate in fee simple. See FEE SIMPLE. > estate in fee tail. See FEE TAIL.

> estate in gage. An estate that has been pledged as security for a debt. See MORTGAGE.

> estate in partnership. (1913) A joint estate that is vested in the members of a partnership when real estate is purchased with partnership funds and for partnership

purposes.

b estate in possession. (17c) An estate in which a present interest passes to the tenant; an estate in which the tenant is entitled to receive the rents and other profits arising from the estate.

> estate in remainder. See REMAINDER (1). > estate in reversion. See REVERSION (1).

> estate in severalty (sev-a-ral-tee), ( 18c) An estate held by a tenant separately, without any other person being joined or connected in interest

5 estate in tail. See FEB TAIL.

s estate in vadio (in vad-ee-oh). An estate in gage or ledge. See MORTGAGE.

estate less than freehold. ( 18c) An estate for years, an estate at will, or an estate at sufferance.

> estate on condition. (18c) An estate that vests, is modified, or is defeated upon the occurrence or non~ occurrence of some specified event. 0 While an estate on limitation can revert without any action by the grantor or the grantor’s heirs, an estate on condition requires the entry of the grantor or the grantor’s heirs to end the estate whenever the condition occurs. –~ Also termed estate on conditional limitation; conditional estate; estate upon condition. Cf. estate on limitation.

> estate on conditional limitation. See estate on condition.

> estate on condition expressed. (18c) A contingent estate in which the condition upon which the estate will fail is stated explicitly in the granting instrument.

> estate on condition implied. ( 18c) A contingent estate havmg some condition that is so inseparable from the estate 8 essence that it need not be expressed in words.

> estate on limitation. (18c) An estate that automatically reverts back to the grantor according to a provision, usu. regarding the passage of a determined time period, designated by words such as “during,” “while,” and “as long as.” See fee simple determinable under FEE SIMPLE. Cf. estate on condition.

> estate pur autre vie. See life estate pur autre vie. > estate tail. See FEE TAIL. .

> estate tail quasi. An estate granted by a life tenant, who, despite using language of conveyance that is otherwise sufficient to create an estate tail, is unable to grant in perpetuity.

> executed estate. See REMAINDER (1).

> expectant estate. See future interest under INTEREST (2). > fast estate. See real property under PROPERTY.

> freehold estate. See FREEHOLD.

> future estate. See future interest‘under INTEREST (2).

r joint estate. (15c) Any of the following live types of estates: (1) a joint tenancy, (2) a tenancy in common, (3) an estate in coparcenary (a common-law estate in which coheirs hold as tenants in common), (4) a tenancy by the entirety, or (5) an estate in partnership.

r landed estate. (18c) An interest in real property, esp. suburban or rural land, as distinguished from real estate situated in a city. Also termed landed property.

> leasehold estate. See LEASEHOLD.

v legal estate. (17c) An interest enforced in law rather than in equity.

p legal life estate. See life estate.

r life estate. (18c) An estate held only for the duration of a speciiied person’s life, usu. the possessor’s. 0 Most life estates created, for example, by a grant “to lane for life” are beneficial interests under trusts, the corpus often being personal property, not real property. -Also

termed estate for life; legal life estate; life tenancy. See LIFE TENANT. ,

r life estate pur autre vie (par oh-tra vee). (1888) A life estate for which the measuring life -the life whose duration determines the duration of the estate -is

someone’s other than the possessor’s. Also spelled life estate per autre we.

r marital estate. See marital property under PROPERTY.

p mesne estate. (17c) Hist. An estate held by a feudal lord who received it from a superior lord. See MESNE LORD.

7 next eventual estate. (1836) An estate taking effect upon an event that terminates the accumulation of undis

posed rents and prolits; an estate taking effect when the existing estate terminates.

r nonancestral estate. (1868) An estate from any source

other than the owner’s ancestors. -Also termed nonancestral property.

7 nonfreehold estate. (1937) Any estate in real property without seisin, such as an estate for years, from period to period, at will, or at sufferance; any estate except a fee simple, fee tail, or life estate.

p original estate. An estate that is the hrst of one or more derivative estates, bearing to each other the relation of a particular estate and a reversion.

v particular estate. An estate or interest less than a fee simple, such as a fee tail, a life estate, or a term for years.

0 It is so called because the estate is a mere part (particula) of the fee simple.

> periodic estate. See periodic tenancy under TENANCY.

I» possessory estate. (18c) An estate giving the holder the right to possess the property, with or without an owner~ ship interest in the property.

> present estate. An estate in immediate possession; one vested at the present time, as distinguished from a future estate. See present interest under INTEREST (2).

r qualified estate. (18c) Any estate that is not absolute and unconditional; a limited or conditional estate.

r reversionary estate. See REVERSION.

r separate estate. The individual property of one of two persons who stand in a marital or business relationship. See SEPARATE PROPERTY.

> settled estate. (18c) An estate created or limited under a settlement; an estate in which the powers of alienation, devising, and transmission according to the ordinary rules of descent are restrained by the settlement’s terms.

> stipendiary estate (stI-pen-dee-er-ee). (1880) Hist. An estate granted in return for services, usu. of a military kind.

p vested estate. (18c) An estate with a present right of enjoyment or a present fixed right of future enjoyment.

2. All that a person or entity owns, including both real and personal property.

> bankruptcy estate. See BANKRUPTCY ESTATE.

3. The property that one leaves after death; the collective assets and liabilities of a dead person.

“T he word ‘estate’ was probably adopted because in early days it was possible to ascertain a man’s status or position in life by discovering the particular kind of tenure by which he held his lands. The quality of his tenure gave a clue to his status. The baron for example ought in theory to be the holder of a barony; he has the status of a baron because he has the estate of a baron. . . . [O]ne of the distinguishing marks of [the] freehold estates was the uncertainty of their duration. They were invariably held either for life, or for some other space of time dependent upon an event which might not happen within a lifetime, and thus a freehold

estate came to be regarded as one which involved the per. formance of free services only, but as one which endured for an uncertain time. In this way, the word ‘estate’ came to denote the quantity of a man’s interest in land.” Gt“ Cheshire, Modern Law of Real Property 26 (3d ed. 1933).

b adjusted gross estate. (1932) l. The total value of a decedent’s property after subtracting administration expenses, funeral expenses, creditors’ claims, and casualty losses. 0 The value of the adjusted gross estate is used in computing the federal estate tax. Cf. net probate estate under PROBATE ESTATE. 2. See gross estate (1).

b ancestral estate. (1850) An estate that is acquired by

descent or by operation of law with no other consider. ation than that Of blood.

> augmented estate. (1967) A refinement of the elective share to which a surviving spouse is entitled, whereby the “fair share” is identitied as something other than the traditional one-third of the probate estate. 0 The current version Of the Uniform Probate Code uses a sliding scale that increases with each year of marriage. Under the UPC, a surviving spouse has accrued full marital-prop erty rights after 15 years of marriage. This percentage of spousal entitlement is applied to a reconceptualization Of the decedent’s estate to take into account more than just the assets remaining in the probate estate at death. Also added into the calculation are the value of certain inter vivos transfers that the decedent made to others in a way that depleted the prObate estate; the .Value of similar transfers made to others by the spouse as well as the value Of the marital property owned by the spouse at the decedent’s death; and the value of inter vivos transfers of property made by the decedent to the spouse. The Uniform Probate Code adopted this version of the augmented-estate concept in an attempt to equalize the treatment Of surviving spouses in non-community~ property states vis-a-vis communityproperty states. Unif. Probate Code § 2-202. See ELECTIVE SHARE.

r decedent’s estate. (18c) The real and personal property that a person possesses at the time of death and that passes to the heirs or testamentary beneficiaries.

> estate of inheritance. (16c) An estate that may descend to heirs.

> gross estate. (1833) 1. The total value of a decedent’s property without any deductions. 2. Loosely, adjusted

gross estate.

r heirless estate. (1956) The property of a person who dies intestate and without heirs. See ESCHEAT.

p insolvent estate. (17c) An estate whose assets are insufficient to cover its debts, taxes, and administrative expenses.

> net estate. See net probate estate under PROBATE ESTATE. , net probate estate. See PROBATE ESTATE. r probate estate. See PROBATE ESTATE.

p residuary estate. (18c) The part of a decedent’s estate remaining after payment of all debts, expenses, statv utory claims, taxes, and testamentary gifts (special, general, and demonstrative) have been made. -Also termed residual estate; residue; residuary; residuum.

r taxable estate. (18c) A decedent’s gross estate reduced by allowable deductions (such as administration costs and ESOP deductions). IRC (26 USCA) § 2051. 0 The

estate came to be regarded as one which involved the per. formance of free services only, but as one which endured for an uncertain time. In this way, the word ‘estate’ came to denote the quantity of a man’s interest in land.” Gt“ Cheshire, Modern Law of Real Property 26 (3d ed. 1933).

b adjusted gross estate. (1932) l. The total value of a decedent’s property after subtracting administration expenses, funeral expenses, creditors’ claims, and casualty losses. 0 The value of the adjusted gross estate is used in computing the federal estate tax. Cf. net probate estate under PROBATE ESTATE. 2. See gross estate (1).

b ancestral estate. (1850) An estate that is acquired by

descent or by operation of law with no other consider. ation than that Of blood.

> augmented estate. (1967) A refinement of the elective share to which a surviving spouse is entitled, whereby the “fair share” is identitied as something other than the traditional one-third of the probate estate. 0 The current version Of the Uniform Probate Code uses a sliding scale that increases with each year of marriage. Under the UPC, a surviving spouse has accrued full marital-prop erty rights after 15 years of marriage. This percentage of spousal entitlement is applied to a reconceptualization Of the decedent’s estate to take into account more than just the assets remaining in the probate estate at death. Also added into the calculation are the value of certain inter vivos transfers that the decedent made to others in a way that depleted the prObate estate; the .Value of similar transfers made to others by the spouse as well as the value Of the marital property owned by the spouse at the decedent’s death; and the value of inter vivos transfers of property made by the decedent to the spouse. The Uniform Probate Code adopted this version of the augmented-estate concept in an attempt to equalize the treatment Of surviving spouses in non-community~ property states vis-a-vis communityproperty states. Unif. Probate Code § 2-202. See ELECTIVE SHARE.

r decedent’s estate. (18c) The real and personal property that a person possesses at the time of death and that passes to the heirs or testamentary beneficiaries.

> estate of inheritance. (16c) An estate that may descend to heirs.

> gross estate. (1833) 1. The total value of a decedent’s property without any deductions. 2. Loosely, adjusted

gross estate.

r heirless estate. (1956) The property of a person who dies intestate and without heirs. See ESCHEAT.

p insolvent estate. (17c) An estate whose assets are insufficient to cover its debts, taxes, and administrative expenses.

> net estate. See net probate estate under PROBATE ESTATE. , net probate estate. See PROBATE ESTATE. r probate estate. See PROBATE ESTATE.

p residuary estate. (18c) The part of a decedent’s estate remaining after payment of all debts, expenses, statv utory claims, taxes, and testamentary gifts (special, general, and demonstrative) have been made. -Also termed residual estate; residue; residuary; residuum.

r taxable estate. (18c) A decedent’s gross estate reduced by allowable deductions (such as administration costs and ESOP deductions). IRC (26 USCA) § 2051. 0 The

taxable estate is the amount that is subject to the federal unified transfer tax at death.

4, A tract of land, esp. one affected by an easement.

“The old definitions of this word [estate] generally conflne it to lands or realty. Thus, according to Lord Coke, ‘state or estate signifieth such inheritance, freehold, term for years, &c., as any man hath in lands or tenements.’ Co. Litt. 345a. So Cowell deiines it to be ‘that title or interest which a man hath in lands or tenements,’ and the same definition is given in the Termes de la Ley. And this limited sense of the word has been relied on, in argument, in some cases . . . . But, according to the settled modern doctrine, the term estate is of much more extensive import and application, being indeed genus generalissimum, and clearly comprehending things personal as well as real; person as well as real estate.” 1 Alexander M. Burrill, A Law Dictionary and Glossary 561 (2d ed. 1867).

p dominant estate. (18c) An estate that benefits from an easement. Also termed dominant tenement; dominant property; upper estate. Cf. servient estate,

v lower estate. See servient estate.

> real estate. See real property under PROPERTY.

> servient estate (sar-vee-ant). (18c) An estate burdened by an easement. -Also termed servient tenement; servient property; lower estate. Cf. dominant estate.

r upper estate. See dominant estate. estate agent. See real-estate agent under AGENT. estate duty. See DUTY (4).

estate freeze. (1986) An estate-planning maneuver whereby an owner of a closely held business exchanges common stock for dividend-paying preferred stock and gives the common stock to his or her children, thus seeking to guarantee an income in retirement and to avoid estate tax on future appreciation in the business’s value.

estate from period to period. See periodic tenancy under TENANCY.

estate in expectancy. See future interest under INTEREST (2).

estate in fee. See FEE SIMPLE. estate in freehold. See FREEHOLD.

estate in lands. (16c) 1. Property that one has in lands, tenements, or hereditaments. 2. The conditions or circumstances under which a tenant stands in relation to

the leased property. estate in remainder. See REMAINDER (1).

estate planning. (1938) l. The preparation for the distribution and management of a person’s estate at death through the use of wills, trusts, insurance policies, and other arrangements, esp. to reduce administration costs and transfer-tax liability. 2. A branch of law that involves the arrangement of a person’s estate, taking into account the laws of wills, taxes, insurance, property, and trusts.

Mates of the realm. (16c) Engiish law. l. The lords spiri~ tual, the lords temporal, and the commons of the United Kingdom. -Also termed the three estates. 2. In feudal Europe, the clergy, nobles, and commons. 0 Because the

rds spiritual had no separate assembly or negative in political capacity, some authorities reduce the estates United Kingdom to two, the lords and commons. In

an ‘ about the 14th century), the three estates

e the clergy, barons, and knights. In legal

practice, the lords spiritual and lords temporal are usu. collectlvely designated simply as lords.

estate’s property. See PRO

PERTY OF THE ESTATE estate tax. See TAX. estate trust. See TRUST (3).

References:

Disclaimer: All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use.

[1]: Black’s Law Dictionary Deluxe Tenth Edition by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4

[2]:  Ballantine’s Law Dictionary Legal Assistant Edition
by Jack Ballantine 
(James Arthur 1871-1949).  Doctored by Jack G. Handler, J.D. © 1994 Delmar by Thomson Learning.  ISBN 0-8273-4874-6.

[3]:  Categorized and arranged by Wild Willpower PAC.

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