Estate

From Conservapedia - Reading time: 1 min

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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.