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Cat H.
Rosings is Lady Catherine's for her lifetime but secured to the de Bourgh line; going by the description of Lady Catherine being the one to grant Mr Collins the living of Hunsford, it isn't being held in trust or owned by Anne, it is Lady Catherine's.
I always understood Lady Catherine's explanation about Rosings not being entailed to mean that Anne inherits it, and Lady Catherine is either granted a right to use Rosings for her lifetime, or she is like a trustee to administer it until it goes to Anne outright (I understand the usual way was for women to inherit either at 25 years or at their marriage). I'm inclined to think women could not be named as trustees legally but if any close male relatives were named as Anne's trustees perhaps they were the Fitzwilliam family? (if Sir Lewis had any close male relatives they would likely be involved too). I can imagine that Lady Catherine just doesn't give up the reins she had held after Sir Lewis died, even though she isn't the person with a legal right to administer the estate or to appoint the clergyman to the Hunsford living, if the trustees or Anne aren't willing to confront her about it.