Your position within society is one of the most important attributes of a medieval human. There are both noble and peasant characters in Battlemaster.
Lowest of the low. When a noble sinks to the lowest levels of dishonour, they will be considered as outlaws to everyone. Should they end up in prison, they may be executed by the judge of the realm, whether they've been banned from the realm or not. Adventurers begin life as outlaws, as well. Through hard work and risking their lives battling monsters and undead, they may eventually be able to achieve Freeman status, but they will still be a peasant.
An Outlaw is anyone with less than 5 honour. It is possible to be a noble outlaw.
Still a peasant, albeit one with a bit more prestige and honour. Nobles might view him somewhat more favourably. As commoners they can still be executed after imprisonment without having been banned before.
Your initial rank whenever you join a realm, the noble has no liege lord, not having sworn fealty to anyone. He has no estate, and thus receives no income. A noble can be elected to one of the four major government positions.
A noble having sworn fealty to a lord, and thus having integrated himself fully into the realm hierarchy. He has an estates in the region he's sworn to and gets a portion of the region's income in taxes. This is the most common rank within most realms. A knight sworn to a region lord becomes a part of the duchy to which that region belongs. Knights can be elected to all government positions.
(Baron/Baroness, Count/Countess, Viscount/Viscountess, Earl/Countess, Margrave/Margravine)
Landed nobility, a knight who has been entrusted with a region of the realm. In addition to knightly activities, landed nobility also controls the region entrusted to them and has many local command options. Lords can be elected to all government positions.
The highest rank of landed nobility, dukes command an entire duchy. A duke may also command one of the regions within their duchy.
Nobles with direct ties to the royal family. This rank is limited to the current ruler and any former rulers of the realm. Royals are always royal knights at least and cannot be banned from the realm, though they can still be exiled.