Page:Black's Law Dictionary (Second Edition).djvu/448

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ESTATE

an estate subjected to a burden or servitude for the benefit of another estate. Walker v. Clifford, 1% Ala. 67, 29 South. 538. 86 Am. St. Rep. 74; Stevens v. Denuett. 51 N. H. 3 Dillnian v. Holfman. 38 Wis. 572. A n_e estate, in English law, is one created or limited under a settlement; that is, one in which the ouucrs of alienation, devising and transmission according to the ordinary rules of descent aie restrained by the limitations of the settlement Michlethwait v. Mickiethwait, _ B. (N. S_.) ATKI. A -vested estate is one in which there is an Immediate right of present enjoyment or I present fixed right of future enjoyirient:_ an estate as to which there is a person in being “ho aould have an immediate right to the possession upon the ceasing of some intermediate or prcmdent estate. Tayloe v. Goulil. 10 Barb. (N. I.) .388: h'la.uner v. Fellows, 206 Ill. 136. 68

N. E 1 .

-01-ig-in.a.I and derivative estates. An originai is the first of several estates, bearing to each other the relation of a partlcular estate and a reversinn. An original estate is contrasted with a derivative estate: and a derivative estate is a particular interest carved out of an- other estate of larger extent. Prest. Est. 125.

For the names and definitions of the various kinds of estates In land, see the following titles.

2. In another sense, the term denotes the property (real or personal) in which one has a right or interest; the subject-matter of ownershlp; the corpus of property. Thus, we speak of a “Valuable estate," “all my es- mte." “separate estate," "trust estate." etc. This, also. is its meaning in the classification or property into “real estate" and “personal estate."

The word “estate” is a word of the greatest extension, and comprchends every S]|L'(‘I€S of properly, real and personal. It descrilics both the corpus and the extent of interest. Deering v. Tucker, 55 Me. 284.

"Estate" comprehends everything a man owns. real and personal, and ought not to be llinited in its construction, unless connected with some other word which must necessarily have that effect. Pulliam v. Piilliain (C. C.) 10 Fed. 40.

It means, ordlnarily, the whole of the property ovinerl by any one, the realty as well as the pei-soniilw. Hunter v. Husted, 45 N. C. 141.

Compound and descriptive tenns.—I‘ast Real properly. A term sometimes used in wills. Louis v. Smith, 9 N. Y. 502. 61 Am. Dec. 70(i.—Rea.1 estate. Laud:-d proper- I). including all estates and interests in lands uhich are held for life or for some greater est-ite and whether such lands he of freehold or coiiyhold tenure-. Wharton.—Homestead estute. See HO\lEs'l'EAD.—-1VInvable estate. Sec \Im'anLi:.—!~‘.osidnary estate. See RE- sinuimv.—Sepa.rate estate. See SEPARATE. —'I‘1'ust estate. See TRUST.

3. In a wider sense, the term "estate" de- notes a man's whole flnanelal status or coli- (htion —the aggregate or his interests and concerns, so far as regards his situation with reference to wealth or its objects, including debts and ohligations, as well as possessions and rights.

Here not only property, but indebtedness. is pan, of the idea The estate does not consist of the assets only. If it dld, suc_h expressions as "insolvent estate" would be misnoniers. Debts and assets, Lilicn together. constitute the estate. It is only by regarding the demands against the

440

ESTATE FOR LIFE

original proprietor as constituting, together with his resources available to defray tbem, one entirety, that the phraseolugy of the law governing what is called “settlement of estates" can be justihed. Ahbott.

4. The word is also used to denote the aggregate of a man's finaiicial concerns (as above) pcrsoiii/mi). Thus, we speak or ' debts due the estate," or say that “A.’s estate ls ti stockholder in the bank." In thls sense it is a fictitious or juridical person, the idea being that a man's husliiess status contlnues his existence, for its special purposes, until its final settlement and dissolution.

5. In its hrnadest sense, “csLate" signifies the social, civic, or political condition or standing of a person; or a class of peisons considered as grouped for social. civic, or nolitlcal purposes; as in the phrases. “the thiril estate," “the estates of the realm." See 1 Bl. Comm. 153.

“Estute" and "degree," when used in the sense of an in1.liviv.lual‘s personal status, are synony- mous, and indicate the individual's rank in life State v. Bishop, 15 Me. 1..

ESTATE AD REMANENTIAM. An estate in fee-simple. Gian. L 7, c. 1.

ESTATE AT SUTPERANCE. The interest of a tenant who has come rightiully into possession of lands by permission of the owner, and continues to occupy the same after the period for whlch he is entitled to hold by such permission. 1 Washb. Real Prop. 392; 2 Bl. Comm. 150: C0. Litt. 5Tb.

ESTATE AT WILL. A species of estate less than ti-eeliolil, where lands and tenements are let by one man to another. to have and to hold at the will of the lessor; and the tenant by force of this lease obtains possesailon. 2 Bl. Comm. 145; 4 Kent, comm. 110: Litt. § 68 Or it is where lands are let Without limiting any certain and determinate estate. 2 Crabh, Real Prop. p. 403, § 1543.

ESTATE BY ELEGIT. See ELEGIT.

ESTATE BY STATUTE MERCHANT. An estate whcrehy the creditor, under the custom of London, retained the possession of ail his debtoi-‘s lauds untll his debts were paid. 1 Greenl. Cruise, Dig. 515. See STAT- um IVIERCHANT.

ESTATE BY THE CURTESY. Tenant hy the cuitesy of England is wlie1'e.a man survives a wife who was selsed in lee—sii.nple or fee-tail of innds or tenements, and has had issue inaie or female by her born alive and capable of inheriting the wife's estate as heir to her; in which case he will, on the dcceuse of his wife. hold the estate during his life as tenant by the curtesy of Englanil. 2 Criibb, Real Prop. 15 1074.

ESTATE FOR LIFE. A freehold estate, not of inheritance, but which is held by