Estate

Business, Legal & Accounting Glossary

Definition: Estate


Estate

Quick Summary of Estate


everything you own; all of your assets (whether real property or personal property) and liabilities




What is the dictionary definition of Estate?

Dictionary Definition


n.

  1. all that one owns in real estate and other assets.
  2. commonly, all the possessions of one who has died and are subject to probate (administration supervised by the court) and distribution to heirs and beneficiaries, all the possessions which a guardian manages for a ward (young person requiring protection and administration of affairs), or assets a conservator manages for a conservatee (a person whose physical or mental lack of competence requires administration of his/her affairs).
  3. an alternative term for real property interest which is used in conjunction with another defining word, like “life estate,” “estate for years,” or “real estate.

Full Definition of Estate


All assets owned by an individual at death, to be distributed according to the individual’s will (or a court ruling if there is no will).


Examples of Estate in a sentence


His children had a lengthy court battle over who would get the vacation home he left as part of his estate.

The auctioneer told us all to meet at the estate to look around and place silent bids on items if we wished to do so.

Although Mary’s will explicitly stated that the remains of her estate were to be divided equally among her four children, they decided that they would just have an estate sale rather than sort through their mother’s house.


Related Phrases


supply and demand
fiduciary bond
Chartered Trust and Estate Planner
administrator
W-4P Form
direct sales comparisons approach
National Association of Real Estate Appraisers
1099-S Form
charge and discharge statement
freehold
trading estate
Federal estate tax
net investment in real estate
taxable estate
estate from period to period
four quadrants of the real estate capital markets
Real Estate Mortgage Investment Conduit
gross real estate investment value
Board Certified In Estate Planning (BCE)
Society of Real Estate Appraisers (SREA)


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/estate/
Modern Language Association (MLA):
Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
August 16, 2022 https://payrollheaven.com/define/estate/.
Chicago Manual of Style (CMS):
Estate. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/estate/ (accessed: August 16, 2022).
American Psychological Association (APA):
Estate. PayrollHeaven.com. Retrieved August 16, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/estate/

Definition Sources


Definitions for Estate are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 30th October, 2021 | 0 Views.