Difference between revisions of "Estate"
Jump to navigation
Jump to search
(formatting, grammar, und) |
m |
||
| (3 intermediate revisions by 3 users not shown) | |||
| Line 1: | Line 1: | ||
| − | '''Estate''', in [[law|legal]] terminology, is a person's property. | + | '''Estate''', in [[law|legal]] terminology, is a person's property. It is most commonly used in dealing with [[probate]], whereby the estate is that property ([[asset]]s and [[liability|liabilities]]) a person owns at death and is either to be disposed of in accordance with a [[will (legal document)|will]] or under the '''intestate''' laws of the state where the person resided. |
| − | In more common usage, an estate is a large piece of land that is well-decorated and usually owned by a wealthy person. | + | In more common usage, an estate is a large piece of land that is well-decorated and usually owned (or was once owned) by a wealthy person. |
| − | [[ | + | |
| + | [[Category:Legal Terms]] | ||
Latest revision as of 19:26, March 2, 2018
Estate, in legal terminology, is a person's property. It is most commonly used in dealing with probate, whereby the estate is that property (assets and liabilities) a person owns at death and is either to be disposed of in accordance with a will or under the intestate laws of the state where the person resided.
In more common usage, an estate is a large piece of land that is well-decorated and usually owned (or was once owned) by a wealthy person.