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Present Past Subjects Projects Misc
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THE ESTATE
Estate. (1) The degree, quanitity, nature and extent of interest which a person has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. (2) The condition or circumstance in which the owner stands with regard to his property. In this sense, 'estate' is commonly used in conveyances in connection with the words 'right', 'title', and 'interest', and is, in a great degree, synonymous with all of them. When used in connection with probate proceedings, term encompasses totality of assets and liabilities of decedent, including all manner of property, real and personal, choate or inchoate, corporeal or incorporeal. The total property of whatever kind that is owned by a decendent prior to the distribution of that property in accordance with the terms of a will, or, when there is no will, by the laws of inheritance in the state of domicile of the decedent. It means, ordinarily, the whole of the property owned by anyone, the realty as well as the personalty. As used in connection with the administration of decendents' estates, term includes property of a decendent, trust or other person as such property exists from time to time during the administration, and hence may include probate assets as well as property passing by intestacy. In its broadest sense, the social, civic, or political condition or standing of a person; or a class of persons considered as grouped for social, civic, or political purposes. [Black's Law Dictionary]
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