An estate in land refers to the legal rights and interests a person has in a piece of property. This can include ownership, use, and the ability to transfer the property to others. Estates can vary in duration, such as freehold estates, which last indefinitely, or leasehold estates, which are temporary and depend on a lease agreement. Estates are often categorized into different types, such as fee simple, which grants the highest level of ownership, or life estates, which last for the lifetime of a specific individual. Understanding these distinctions is important for property transactions and inheritance matters.