Estate

This word has several meanings; 1, in its most extenmay consist, and includes personal and real property; hence we say personal estate, real estate.

8 Ves. 604.

2.Inits more limited sense the word estate is applied to lands. An estate in land means such an anterest as the tenant has therein. In latin it is called status, because it signifies the condition or circumstance in which the owner stands with regard to his property. To ascertain this with precision and accuracy, estates in lands may be considered ina threefold view; first, with regard to the quantity of interest which the tenant has in his tenement; secondly, with regard to the time at which that quantity of interest is to’ be enjoyed; thirdly, with regard to the number and connexion of the tenants. I. The quantity of interest which ‘the tenant has in his tenement is measured by its duration and extent; this occasions the first division of estates into such as are of freehold, and such as are less than freehold.

1.

Freehold estates are of inheritance and not of inheritance. Ist. Estates of inheritance, are absolute, as fee simple; and limited, which are qualified, as where an estate is granted to A B, tenant of the manor of Dale; or conditional, as fee tail, and the like.

2d.

Freehold estates not of inheritance, are estates for life. These are either conventional, or such as are created by deed:.or legal, which arise by operation of law. The estates of tenant in tail after the possibility of issue extinct, tenant by the curtesy, and tenant in dower, are of this description.

2.

Estates less than freehold: These are estates for years, estates at will, and estates by suffrance. Both estates of freehold and less than freehold may be, 1, equitable, namely, to the use, orin trust; 2, upon II. The time of their enjoyment. Estates are either in possession, or expectancy; the latter are either remainders, created by the act of the parties, which are vested or contingent; or reversions created by act of law.