The degree, quantity, nature, and extent of interest that a person has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. Estate is commonly used in conveyances in connection with the words right, title, and interest, and is, to a great degree, synonymous with all of them.
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A portion of a statute that provides that the law is not applicable in certain circumstances due to preexisting facts.
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The area of law that pertains to the transfer of real property or personal property of a decedent who failed to leave a will or make a valid will and the rights and liabilities of heirs, next of kin, and distributees who are entitled to a share of the property.
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The termination or failure of a right or privilege because of a neglect to exercise that right or to perform some duty within a time limit, or because a specified contingency did not occur. The expiration of coverage under aninsurance policy because of the insured's failure to pay thepremium.
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Under the common law, the principle that no interest in property is valid unless it vests not later than twenty-one years, plus the period of gestation, after some life or lives in being which exist at the time of the creation of the interest.
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