Merriam-Webster's Collegiate® Dictionary, 11th Edition
ESTATE
I. noun see: state
Date: 13th century
state , condition , social standing or rank especially of a high order, a social or political class,
4. the degree, quality, nature, and extent of one's interest in land or other property, b. possessions, property , the assets and liabilities left by a person at death, a landed property usually with a large house on it, project 4, station wagon , farm , plantation ,
II. adjective
Date: 1978
previously owned by another and usually of high quality