When a person dies, everything they own—real estate, bank accounts, investments, personal belongings—forms their estate. In real estate contexts the term also describes the nature and extent of an ownership interest in land.

Fee simple is the most complete estate, granting full ownership rights that can be sold or inherited. Life estates last only for the lifetime of a designated person. Leasehold estates grant possession for a limited term. Probate courts oversee the transfer of estate assets according to a will or state law when no will exists.

Estate planning uses deeds, trusts, and beneficiary designations to control how real property passes at death and to reduce administrative burden. Understanding the type of estate held is essential for determining what rights can be transferred or mortgaged.

• All assets owned by a person at death
• Also describes the nature of ownership interest in land
• Includes fee simple, life, and leasehold estates
• Transferred through probate or estate-planning tools