Quote sweetasarose: Jill does not own the Chandler mansion. Katherine left 1/2 of what Katherine owned. So that should mean she now owns 3/4 of the mansion.
Right now, it is all up to our own interpretation of the verbiage of the will.
I live in the US so haven't actually seen it, only read about it here, and may change my mind once I see it.
"Chancellor Estate" is her mansion and the grounds it sits on. Years ago, Jill got half of it and Catherine the other half, because of Philip Chancellor. That is why they both lived there. The way I am interpreting it, Catherine gave Jill her half, which makes Jill the sole owner. It would be difficult to split the quarters between Murphy, Brock, Mac, Phillip, Nina, etc...
On the other hand, Catherine's "Estate" is everything else, her bank accounts, stock, other investments, personal treasurers, etc. She was a very wealthy woman and it sounds like, to me, that half of that is the $2+ billion that Devon inherited, Murphy would get his quarter (a huge amount in itself), and the rest split between the others. The group that inherited the "Estate" get the non "Chancellor Estate" property.
I still don't understand the "Chancellor Industries" part of the Will as I would have thought it was a part of her "Estate" but there may be other investors, Victor? Current people talking about it are Adam & Jack wanting to take it over and Victor adamantly saying No... And Catherine wanting to keep that part of the Will "private" for the time being means that it will be a storyline in itself soon/someday.