Real-world events are complex, featuring elements that may be unique to, or shared across, multiple situations. In the present study, we used fMRI to identify how different event components are represented in real-time and during memory retrieval. Twenty participants viewed and recalled eight videos depicting real-world events, combining people, contexts, and context types. Multi-voxel pattern similarity analyses revealed specific person representations, persistent across contexts, in regions of an Anterior-Temporal Network. Conversely, we found specific context representations, persistent across people, in regions of a Posterior-Medial Network. We also found schema-like generalization across contexts in medial prefrontal cortex, and episodic specificity in the hippocampus. Event patterns were reinstated during recall, and hippocampal reinstatement predicted the number of details retrieved. Finally, we observed distinct representational timescales across the hippocampus and cortical regions. These findings reveal mechanisms for scaffolding different aspects of lifelike event representations in cortico-hippocampal networks as experiences are observed and recalled.