estate in absolute possession "estate in absolute possession" means an estate in possession arising under any pre-existing interest, other than one acquired by adverse possession, and which- (a) is not the subject of a settlement: Provided that for the purposes of this section an instrument creating a pre-existing joint tenancy in land shall not be deemed to constitute a settlement; (b) does not arise under a mortgage; and (c) does not arise by way of lease other than by an assignment for the unexpired term of any pre-existing lease granted by the State, and includes the estate of a trustee for sale. ACT 518 - NATIONAL LAND CODE (PENANG AND MALACCA TITLES) ACT 1963 (Revised 1994) 47. Estates in absolute possession.