ESTATEINLAND

Estate in land

An estate in land is an interest in real property that is or may become possessory. In the legal systems of almost every country, the ultimate true "owner" of all land is the sovereign, which for a republic is the whole people of a society, which with sovereign, exclusive dominion over a well-defined tract of land, may be called a "state". Private parties own not the underlying land, but claims on parcels of land, which taken together comprise the estate for that parcel. This superior ownership is the basis for taking the land through eminent domain. However, the claims that comprise the estate are themselves personal property.

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estate in land

Noun

  1. An ownership interest in a physical area of land with a set geographic location; real estate; real property.


The above text is a snippet from Wiktionary: estate in land
and as such is available under the Creative Commons Attribution/Share-Alike License.

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