Amazing Greatest Palaces Pictures In The World. The word PALACE is derived from Latin name Palatine, for Palatine, one of the seven hills of Rome. A palace is a great plant, in particular a royal residence or the house of a head of state or some other high ranking dignitaries, like a bishop or an archbishop. In many parts of Europe the term is built used also for relatively large urban buildings like the private mansions of the aristocracy. Many historical palaces are now used for other purposes like parliaments, museums, hotels or office buildings (Wikipedia). This contribution presents a collection of 26 wonderful palaces in the whole world.