

[i-steyt] Pronunciation Key noun, verb, -tat·ed, -tat·ing. | 1. | a piece of landed property, esp. one of large extent with an elaborate house on it: to have an estate in the country. |
| 2. | Law.
|
| 3. | British. a housing development. |
| 4. | a period or condition of life: to attain to man's estate. |
| 5. | a major political or social group or class, esp. one once having specific political powers, as the clergy, nobles, and commons in France or the lords spiritual, lords temporal, and commons in England. |
| 6. | condition or circumstances with reference to worldly prosperity, estimation, etc.; social status or rank. |
| 7. | Obsolete. pomp or state. |
| 8. | Obsolete. high social status or rank. |
| 9. | Obsolete. to establish in or as in an estate. |
Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006.
| es·tate
(ĭ-stāt') Pronunciation Key
n.
[Middle English estat, condition, from Old French; see state.] |
The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2006 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
estate
| estate | |
noun | |
| 1. | everything you own; all of your assets (whether real property or personal property) and liabilities |
| 2. | extensive landed property (especially in the country) retained by the owner for his own use; "the family owned a large estate on Long Island" |
| 3. | a major social class or order of persons regarded collectively as part of the body politic of the country (especially in the United Kingdom) and formerly possessing distinct political rights [syn: estate of the realm] |
Estate
All of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments, and life insurance.
Investopedia Commentary
The value of a personal estate usually becomes very important upon the death of the person in question. Those in line for inheritance often have to pay an inheritance tax on the estate. This tax can be very large, forcing the beneficiary to sell some of the inherited assets in order to pay the tax bill.
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See also: Asset, Escheat, Estate Planning, Estate Tax, Heir, Inheritance, Will
estate
- The assets owned by a person at the time of death. See also gross estate.
Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company.
Main Entry: es·tate
Pronunciation: i-'stAt
Function: noun
Etymology: Anglo-French estat, literally, state, condition, from Old French, from Latin status, from stare to stand
1 : the interest of a particular degree, nature, quality, or extent that one has in land or other property —compare FEE future interest at INTEREST, REMAINDER, REVERSION, TENANCY
absolute estate
: an estate that confers an absolute right to property and that is subject to no limitations, restrictions, or conditions : FEE SIMPLE ABSOLUTE at, FEE SIMPLE
contingent estate
: an estate whose vesting is conditioned upon the happening or failure of some uncertain event
equitable estate
: the estate of one that has a beneficial right to property which is legally owned by a trustee or a person regarded at equity as a trustee (as in the case of a use or power) —compare LEGAL ESTATE in this entry
estate at sufferance
: the estate in property held by one who remains in possession of or on the property after his or her lawful right to do so has ended
estate at will
: an estate in property subject to termination at the will of another person
estate by the entirety
: an estate held by a husband and wife together in which the whole property belongs to each of them and passes as a whole to the survivor upon the death of either of them to the exclusion of the deceased spouse's heirs called also estate by the entireties; —compare joint tenancy tenancy by the entirety, and tenancy in common at TENANCY
estate for years
: an estate that terminates after a set period
estate in expectancy
: an estate the enjoyment of which will take place at a future time : FUTURE INTEREST at, INTEREST
estate of inheritance
: an estate that can be inherited (as a fee simple as opposed to a life estate)
estate on condition
: an estate subject to a contingency whose happening permits the grantor of the estate to terminate it if he or she so chooses —compare fee simple determinable at FEE SIMPLE
estate pur autre vie
: a life estate measured by the life of a third person rather than that of the person enjoying the property
estate tail
; plural estates tail
: an estate granted to a person and his or her direct descendants subject to a reverter or remainder upon the inheritance of the property by a grantee without direct descendants : FEE TAIL at, FEE
legal estate
: an estate to which one person (as a trustee) has legal title but of which another person has the right to the beneficial use —compare EQUITABLE ESTATE in this entry
life estate
: an estate in property held only during or measured in duration by the lifetime of a specified individual and esp. the individual enjoying the property —see also LIFE TENANT
NOTE: Life estates are not estates of inheritance.
vested estate
: an estate in which one has a right to enjoyment currently or sometime in the future
2 : all or designated items of a person's or entity's property considered as a whole
bankruptcy estate
: the estate of a debtor in bankruptcy that includes all the debtor's legal and equitable interests in property as set out in the bankruptcy laws called also debtor's estate —see also BANKRUPTCY, TRUSTEE IN BANKRUPTCY
per·son·al estate
: all of a person's property except real property; broadly : all of the property belonging to a person
sep·ar·ate estate
: an estate whose ownership and control is enjoyed by a person free from any rights or control of another (as a spouse)
3 a : the assets and liabilities left by a person at death —see also BEQUEST, DEVISE, FREEHOLD, HEIR, INHERITANCE, INTESTATE, LEASEHOLD, LEGACY, PROBATE, TESTATE, WILL
aug·ment·ed estate
/og-'men-t&d-/
: a deceased person's probate estate increased in accordance with statutory provisions and esp. by the addition of any property transferred by the deceased within two years of death, any joint tenancies, and any transfers in which the deceased retained either the right to revoke or the income for life
NOTE: In some states, the surviving spouse's elective share is distributed from the augmented estate.
gross estate
: the estate of a person upon death defined by federal estate laws to include all of the deceased's real and personal property at death that may be passed by will or by intestate succession as well as specified property transferred by the deceased before death
probate estate
: all of a deceased person's estate that is administered under the jurisdiction of the probate court
NOTE: Some assets, such as certain insurance proceeds, generally do not become part of the probate estate and are said to “pass outside of probate.”
residuary estate
: all of what is left of an estate once the deceased person's debts and administration costs have been paid and all specific and general bequests and devises have been distributed called also residual estate
taxable estate
: the estate of a deceased person that is subject to estate tax
NOTE: Under federal estate tax law, the taxable estate is the gross estate less allowed deductions. b : the aggregate of a deceased person's property considered as a legal entity
4 : a tract of land esp. affected by an easement
dominant estate
: a tract of land that is benefited by an easement burdening a servient estate
servient estate
: a tract of land that is burdened by an easement benefiting a dominant estate
Estate
Es*tate"\, n. [OF. estat, F. ['e]tat, L. status, fr. stare to stand. See Stand, and cf. State.]1. Settled condition or form of existence; state; condition or circumstances of life or of any person; situation. "When I came to man's estate." --Shak. Mind not high things, but condescend to men of low estate. --Romans xii. 16. 2. Social standing or rank; quality; dignity. God hath imprinted his authority in several parts, upon several estates of men. --Jer. Taylor. 3. A person of high rank. [Obs.] She's a duchess, a great estate. --Latimer. Herod on his birthday made a supper to his lords, high captains, and chief estates of Galilee. --Mark vi. 21. 4. A property which a person possesses; a fortune; possessions, esp. property in land; also, property of all kinds which a person leaves to be divided at his death. See what a vast estate he left his son. --Dryden. 5. The state; the general body politic; the common-wealth; the general interest; state affairs. [Obs.] I call matters of estate not only the parts of sovereignty, but whatsoever . . . concerneth manifestly any great portion of people. --Bacon. 6. pl. The great classes or orders of a community or state (as the clergy, the nobility, and the commonalty of England) or their representatives who administer the government; as, the estates of the realm (England), which are (1) the lords spiritual, (2) the lords temporal, (3) the commons. 7. (Law) The degree, quality, nature, and extent of one's interest in, or ownership of, lands, tenements, etc.; as, an estate for life, for years, at will, etc. --Abbott. The fourth estate, a name often given to the public press.Estate
Es*tate"\, v. t. 1. To establish. [Obs.] --Beau. & Fl. 2. Tom settle as a fortune. [Archaic] --Shak. 3. To endow with an estate. [Archaic] Then would I . . . Estate them with large land and territory. --Tennyson.Copyright © 2008, Dictionary.com, LLC. All rights reserved.











