Estate

Estate in Europe

Definition of Estate

An interest in land. An absolute estate is one granted without condition or termination. A conditional estate is one liable to divest on the fulfillment of a condition. A contingent cstat” is one the right to the enjoyment of which will accrue on the happening of some event; and a determinable estate one that is liable to determine on the happening of some event. An estate in expectancy is one which cannot be enjoyed until some future time.
An estate in possession is one which gives the right of present enjoyment, and a vested estate is one the right to the enjoyment of which has accrued. An estate in sevcralty is one held by a person singly, and an estate in common is one held by several persons jointly in undivided shares. A customary estate is one that existed in manors and boroughs by virtue of local custom : now abolished by the Law of Property Act, 1922.
An estate in fee-simple is one that is granted to ” a man and his heirs, ” and is the greatest estate a subject of the Crown can possess. An estate of freehold is one originally held by a freeman and subject to free services, and of uncertain duration, e.g., for life, or for the life of another. An estate of inheritance is one capable of descending to a man’s heirs, i. e., an estate in fee-simple, fee-tail or in frankalmoign.
An estate tail is one created by the grant of land to “a man and the heirs of his body” or to a man and specified heirs of his body, e.g., the issue of his first wife. The estate tail is derived from the Statute of Westminster II, ~De Donis Conditionalibus, before which a gift of land to a man and the heirg of his body created an estate in fee conditional on his having issue ; ae soon as the condition was performed the estate became absolute. The statute enacted that in such cases the terms of the gift should be carried out and the land should go to the issue of the donee, and on failure of such issue should revert to the donor. The Fines and Recoveries Act, 1833, instituted a disentailing deed for barring the entail, which since the Law of Property Act, 1925, need not be enrolled. (Section 133.) After 1925, the estate tail can be barred by will (ibid., section 176), and will take effect as a’n equitable interest (ibid., section 130). See Entail: Recovery.
A legal estate is one valid against all the world (except specified persons) ; it is the estate capable of subsisting or being created and conveyed at common law. By the Law of Property Act, 1925, s. 1, the only legal estates capable of subsisting are (1) an estate in feesimple absolute in possession ; (2) a term of years absolute ; (3) certain legal interests or charges. All other estates, interests and charges are to take effect as equitable interests. See Charge ; Interest ; Wild’s Case.
An equitable estate is one created and recognised only by a Court of equity, i. e., the Court of Chancery

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Definition of Estate is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.

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